Singapore is pushing for regional collaboration in Southeast Asia.
This chart from KPMG shows that the total fintech funding in Singapore surged to around US$70m in Q2 from a slump of around US$10m in Q1.
The chart also revealed that fintech funding in Singapore peaked in Q4 2017 to more than US$130m worth of deals.
KPMG noted that Singapore continued to push for regional collaboration in Southeast Asia, including the development of a regional fintech innovation sandbox. The Monetary Authority of Singapore (MAS) also pushed on its focus on financial inclusion and started to intensify its focus on encouraging insurtech innovation.
“Riding into the second half of the year, Singapore fintechs will continue to see 2018 as a year of execution and a year of regional expansion beyond local shores as they accelerate their growth momentum,” the firm said.
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