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Funding for Asean fintechs surging, with Singapore getting lion's share of outfits

Asean as an engine of economic growth and its prosperity have caught the eye of global investors

Published Thu, Nov 16, 2017 · 09:50 PM

Singapore

FUNDING for fintechs in Asean is surging, fuelled by the potential of the region's young and underbanked population.

Reflecting Asean's demographics, payments and mobile wallets are attracting the highest level of funding in Asean, registering a 10-fold increase from US$8 million in 2012 to US$83 million in 2015, according to a State of FinTech in Asean report.

Funding has rocketed from an abysmal US$14 million in 2012 to US$338 million year-to-date 2017, the report said. …

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Fintech

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Funding for Asean fintechs surging, with Singapore getting lion's share of outfits

KEYWORDS IN THIS ARTICLE

Banking & Finance

New Zealand’s central bank consulting on development of digital currency

Powell signals rate-cut delay after run of inflation surprises

Bank of America profit falls on lower customer interest payments

Morgan Stanley profit beats estimates with higher investment banking, wealth revenue

HSBC cuts a dozen investment bankers in Asia on deals slump

Japan’s tepid warning on yen fuels renewed weakness ahead of IMF meetings

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