Singapore fintech investments surge to $365m in 2018

Singapore fintech investments surge to $365m in 2018

  • Fintech investments in Singapore more than doubled to $365m in 2018 from $180m in 2017, putting the country among the top five fintech markets by funds raised last year in Asia Pacific, after China, India, Australia and Japan, according to Accenture's analysis of CB Insights data.
  • The number of deals in Singapore rose 16% to 71 in 2018 from 61 in 2017, according to Accenture, which defined fintech companies as those that offer technologies for banking and corporate finance, capital markets, financial data analytics, insurance, payments and personal financial management.
  • Eight of the top 10 deals ever in Singapore took place in 2018, including the $60m cloud company Deskera raised in November, the $52m insurtech Singapore Life raised in December and the $32m cryptocurrency and blockchain startup Terra raised in August.
  • The investment data ranged from 2010 through 2018, and included equity and non-equity financing.


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