Two funding rounds in January signal the rise of Asian neobanks

Investors are not losing interest in neobanks with significant investments recorded at the start of this year. Deal activity in January saw Qonto, an all-in-one bank account for SMEs, lead the way with a $552m series D funding round. The $6m deal by Crowdo, an ESG-driven neobank for SMEs in emerging markets, could be a sign of investors shifting interests towards developing countries and away from established regions like Europe and the US. Crowdo has disbursed over SGD100m in aggregate financing to date. The company has seen its monthly revenue grow by more than 5x during 2021, achieving group profitability since mid-2020. Crowdo plans to use the fresh capital to launch a new ESG financing product targeting women-led enterprises with a plan to disburse up to SGD 16m during 2022 alone.

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

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.