Singapore is top draw in Asean for fintech funding

Singapore

FINANCIAL technology (fintech) firms in Singapore continued to attract the lion's share of global funding among Asean countries, and the Republic remains the preferred base for fintech firms in the region, a new report by United Overseas Bank (UOB), PwC and the Singapore FinTech Association (SFA) has found.

In its third edition, the report noted that of total funding in 2019 to date, just over half (51 per cent) of total funding went into Singapore. The city-state also continues to be the number one regional base for fintechs, and is home to 45 per cent of such firms in Asean.