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Initial euphoria over fintechs may have been replaced by more realistic assessments of individual startups and their business models
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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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