Fall in VC investment in Singapore fintechs not necessarily a bad sign
Initial euphoria over fintechs may have been replaced by more realistic assessments of individual startups and their business models
IS THE fintech (financial technology) industry in Singapore losing its appeal for investors?
This is a valid question when one looks at the numbers crunched by KPMG from its global fintech study called Pulse of Fintech. According to KPMG, in 2016 there was a 65 per cent drop in overall investment in Singapore-based fintech companies, down from 2015's US$605 million to US$214 million.
Interestingly, the number of deals decreased by only two, to 28, during the same period, indicating an overall fall in average deal value.
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