COTD: Singapore’s fintech investment plunges to lowest level since 2020

Total investment was only at $1.7b.

Singapore’s fintech investment dropped to $1.7b (US$1.3b) in 2024, marking its lowest level since 2020, according to KPMG.

The decline signals a market adjustment driven by investor caution, it added.

Still, the second half of the year showed recovery, as Singapore’s fintech deal value surged 41% to $1b (US$781m).

“This underscores a growing emphasis on later-stage deals with high scalability and near-term profitability. Early-stage VC interest remains strong as quality-driven investments gain traction,” KPMG said.

Crypto and blockchain investment rose 22% YoY in the second half of 2024 (H2 2024), reaching $358m (US$267m), driven by artificial intelligence-powered digital asset solutions and blockchain-based financial infrastructure.

AI-powered fintech also made significant gains, with investment soaring nearly $214m (US$160m) in H2 2024, with investors interested in regulatory technology, business automation and agentic AI solutions.

Singapore’s payments sectors ranked third amongst fintech verticals, showcasing resilience despite operating in a mature ecosystem, with nine transactions totalling $76.9m (US$57.4m).

($1=US$0.74)

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