FinTech investment in Singapore surged at a record pace in 2021. Investment in the industry between 2017 to 2020 declined at a -10.46% CAGR but the trend was reversed last year with capital raised soaring 3.7x. The resurgence of Singapore’s FinTech industry could be a direct result of the government’s dedicated S$125m Covid-19 support package for the financial and FinTech sectors, announced in April 2020. The financial measures eased investors concerns as deal activity doubled last year to 207 transactions. In addition, Singapore announced a clear roadmap of initiatives for FinTech companies in May 2020. These initiatives include wage support, new grants and funding for training and accredited courses.
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. ©2021 FinTech Global