FinTech companies in ASEAN countries have raised over $1.9bn in Q3 alone with over $1.7bn of this capital being raised in the top 10 deals of the period. The amount invested across these transactions accounts for 89.3% of the total capital raised in the region during the third quarter of 2019.
The largest deal of the period went to Vingroup, a joint stock company primarily operating in the Real Estate space. The company raised $500m in a post-IPO equity round led by GIC who gained a minority stake in the company following the transaction.
The second largest deal of the period went to Payments & Remittances company VNpay. The business which specialises in the field of electronic payments in Vietnam raised $300m in a round led by Softbank Vision Fund and GIC.
Of the top 10 deals, companies in Singapore account for six of the deals, companies in Vietnam account for two deals and companies in Thailand and Indonesia account for one deal each. This is expected given that Singapore is one of the leading financial centres globally and one of the most important trading hubs in the region. Additionally, the country’s population is very well educated, tech savvy and often early adopters of new digital products and services.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2019 FinTech Global
