Asean fintechs attracted 25% more funding this year: report

Singapore

FINTECH firms based in Asean attracted 25 per cent more funding in the first 10 months of 2018 over the funding captured in the full year of 2017, with the US$222 million of funding taken up so far in Singapore alone making up nearly half of the funding earmarked for fintech within Asean. For fintechs in all of Asean, investors poured in US$458 million of funds from January to October this year. (see amendment)

These were the findings from a report by UOB released on Tuesday. It showed that Singapore continued to attract the most funding within the region, with the US$222 million figure a record, albeit in a nascent space.