Singapore fintech funding rebounds in Q2 to US$278m

Reports show that almost two-thirds of 95 completed fintech deals in Asean went to the Republic's firms

Vivienne Tay

Published Wed, Dec 9, 2020 · 09:50 PM

Singapore

SINGAPORE'S fintech investments rebounded in the second quarter of 2020 to US$278 million, 4.1 times the US$68 million recorded in the first quarter, the Singapore FinTech Association (SFA) and management consulting firm Oliver Wyman said in a report on Wednesday.

From 2015 to 2019, about 65 per cent of fintech funding in South-east Asia was directed to Singapore businesses, nearly four times that of the funding received by Indonesia, the next-largest market.

This is further supported by a separate report by UOB, PwC Singapore and SFA released on Wednesday, which stated that almost two-thirds of 95 completed deals in A…