by Fintech News Singapore June 11, 2024 Singapore is often considered fertile ground for startups and in particular fintechs to raise funds. In the first half of 2023, fintech companies in the country secured a total of US$934 million in funding across 84 deals, a far cry from the US$3.3 billion raised during the same period the prior year.
Therefore it is not surprising that the top funded fintechs in Singapore in 2024 are also often the top funded fintechs in Southeast Asia. In 2023, Singapore’s fintech sector amassed total funding of US$2.20 billion, inclusive of mergers and acquisitions (M&A), private equity (PE), and venture capital (VC) deals.
This represents a substantial 68% decrease from the US$4.4 billion raised in 2022, data from KPMG show . Year-on year (2011 – 2023) fintech VC, PE, and M and A activity in Singapore in USD (billion), Source- Source: KPMG, Feb 2024 Despite the slowdown, Singapore continued to lead the fintech sector in Asia-Pacific (APAC) last year, accounting for a substantial 21% of all fintech deals and reinforcing its reputation as a premier fintech hub in the region.
In the sector, several companies are standing out from the pack for their growth and traction. Today, we look at the top funded fintech companies in the Singapore, delving into their products and value propositions, and latest developments. For this list, we’ve used data from Tech in Asia , CB Insights, Dealroom, and company announcements.
Coda Payments – US$715 million Wi.
