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Financial Services

Staff Reporter

, Singapore

Published:

2 months ago

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Singapore captures 53% of APAC fintech funds in 9M

It raised US$745m.

Singapore accounted for 62% of fintech funding deals in Asia Pacific (APAC) in the first nine months of 2024 (9M24), raising US$745m and leading the region.

Singapore also captured the lion’s share of regional fintech funding, accounting for 53% of the total amount raised.

According to the FinTech in ASEAN 2024: A decade of innovation report from UOB, PwC Singapore, and the Singapore FinTech Association (SFA), APAC secured US$1.4b across 99 deals in 9M24, with the payments sector leading, contributing 23% of the total funds raised.

In Singapore, banking tech (21%) and blockchain in financial services (20$) garnered the most funding. Payments only accounted for n12% of the funds raised in the market in 9M.

Meanwhile, the report also found that Singapore has the highest number of fintech unicorns in ASEAN-6, including Bolttech and Matrixport, which achieved the status within one to two years.

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PwC

Singapore FinTech Association

UOB

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