Fintech

Singaporean fintech fundraising reaches all-time high

Investors are betting more than ever before on Singapore’s fintech space, with payments and insurtech startups reaping the rewards

Financial technology fundraising in Singapore has soared this year as investors focus on mature startups in the payments and online insurance sectors.

Singaporean fintech companies raised $735 million in the first nine months this year, according to management consultant group Accenture. That represented a 69% increase from the same period last year.

While fundraising reached new heights, the number of deals dropped by 29% compared to last year. Of the 94 deals completed from January to the end of September 2019, 29 involved early-stage capital raising. This represented a 46% decline in the number of seed funding deals year-on-year. 

In contrast, series funding...

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