• Singapore was the fourth most active FinTech country in Q3 2022 with 3.8% of total deals. FinTech deal activity reached 55 deals in the quarter which brings projections for the year to 226 deals, a 9.5% increase from 2021 which would set a new annual record for the country. Investment in the country reached $307m in Q3 2022, a 19% drop from the previous quarter.
• Fazz, a payments provider and finance company, was the largest FinTech deal in Singapore during Q3 2022 raising $75m in their latest Series C funding round which includes investment from existing investors such as Tiger Global, DST Investment, B Capital, Insignia Ventures Partners and ACE & Company. The funding from this latest round will be used to build up Fazz, a business account that allows businesses of all sizes – from micro, small, and medium enterprises (MSMEs) to Fortune 500 companies – to pay, save, and get credit easily in Southeast Asia, acceleratingD the company’s vision to catalyse Southeast Asia’s digital transformation. Fazz currently “serves over 13 million end-users and over 300,000 registered businesses in Indonesia and Singapore.”
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. ©2022 FinTech Global
