Subscribers

Fintech investments in Singapore up 69% in first 9 months of 2019

But Accenture research shows fewer - but larger - deals compared to same period in 2018

4 -min read
Listen to this article

Singapore

FINTECH investments in Singapore for the nine months ended Sept 30 jumped 69 per cent, from US$435 million in the corresponding period last year to US$735 million.

Research by professional services firm Accenture has found, however, that the number of fintech deals fell by almost a third (29 per cent) from 133 to 94, pointing to there having been larger bets on fewer deals as startups grew their business.

Angel and seed funding, which focuses on the earliest stage of capital raising for startups, dropped 56 per cent to US$54 million; the number of such deals declined 46 per cent to 29.

In contrast, series funding, which typically targets companies looking to grow their business with external...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes

Purchase this article