Singapore named 9th best city for fintech startups globally

Bangalore ranked 5th and New Delhi was 10th globally.

Bangalore, Singapore, and New Delhi were named the top cities in Asia and amongst the top cities in the world for fintech startups, according to research platform StartupBlink.

Bangalore, India ranked 5th globally and the best city in Asia for fintech startups. The “Silicon Valley of India” is home to fintech unicorn RazorPay, and serves as a hub for technology.

Government initiatives promoting cashless transactions and digital payments have also propelled the city’s fintech sector.

Singapore is the 2nd best city in Asia for fintech startups and ranked 9th globally. Its government is noted for playing a proactive role in fostering the industry through policies like the Monetary Authority of Singapore’s Fintech Regulatory Sandbox.

New Delhi, India, rounded up Asia’s top three cities for fintech startups, as well as clinched the 10th spot in the global list.

The city has a growing Fintech ecosystem fueled by startups like BharatPe and MobiKwik. It ranked one spot better than its general rank, replacing Stockholm in the fintech list.

New Delhi benefits from India’s ongoing digital finance revolution, StartupBlink said.