Singapore Fintech Investments Rebounded To $371 Million In Q2

Dec 9, 2020

Although the Covid-19 pandemic resulted in a fall in overall fintech funding in Asia - particularly in China and India - Singapore's funding landscape has been less volatile, the Singapore FinTech Association (SFA) and management consulting firm Oliver Wyman said. According to the report, Fintech funding in Asia dropped to US$2.4 billion in the second quarter from US$3.13 billion in the first.

SFA and Oliver Wyman also found that from 2015 to 2019, about 65 percent of fintech funding in South-east Asia was directed to Singapore businesses, nearly four times that of the funding received by Indonesia - the next-largest market.

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Singapore’s fintech investments rebounded in the second quarter of 2020 to US$278 million, 4.1 times the US$68 million recorded in the first quarter, the Singapore FinTech Association (SFA) and management consulting firm Oliver Wyman said in a report on December 9th, 2020.

SFA and Oliver Wyman’s report said the Covid-19 pandemic resulted in a fall in overall fintech funding in Asia to US$2.4 billion in Q2, from US$3.13 billion in Q1. However, Singapore’s funding landscape has been less volatile.

Read the full story here.