Key Asian FinTech investment stats in Q3 2025:
- Asian FinTech deal activity fell by 19% YoY in Q3
- Indian firms accounted for over a third of all deals, reinforcing the country’s position as Asia’s main FinTech hub
- GXS Bank, Singapore’s pioneering digital lender backed by Grab and Singtel, secured one of the biggest Asian FinTech deals of the third quarter with a $60m capital injection from its key shareholders
Asian FinTech deal activity fell by 19% YoY in Q3
In Q3 2025, the FinTech industry in Asia saw a decline in both funding and deal activity, reflecting a more cautious investment environment across the region.
Total funding reached $1.6bn across 169 deals, representing a 19% decrease in funding and an 18% decline in deal activity compared to the $2bn and 207 deals recorded in Q3 2024.
The fall was even more pronounced when compared with the previous quarter, as funding dropped 35% from $2.5bn in Q2 2025, though deal volume increased by 22% from 138 deals, suggesting smaller average deal sizes and more early-stage activity.
Overall, the data highlights a moderation in large-scale funding rounds but continued momentum in deal-making across emerging Asian FinTech markets.
Indian firms accounted for over a third of all deals, reinforcing the country’s position as Asia’s main FinTech hub
India remained the most active FinTech market in Asia with as firms in the country secured 59 deals (35% share overall deal flow in Asia) in Q3 2025, maintaining the same number of deals as in Q3 2024 but expanding its share from 29% to 35% of total activity.
China followed with 24 deals (14% share), re-entering the top three, while Singapore ranked third with 23 deals (14% share), though this marked a 47% decline from the 43 deals (21% share) recorded in the same period last year.
Japan, which was among the leading markets in Q3 2024 with 27 deals (13% share), fell out of the top three.
Despite the overall decline in deal volume, India strengthened its dominant position in the region, while China and Singapore continued to play key roles in sustaining FinTech innovation across Asia.
GXS Bank, Singapore’s pioneering digital lender backed by Grab and Singtel, secured one of the biggest Asian FinTech deals of the third quarter with a $60m capital injection from its key shareholders
The new investment came from Grab subsidiaries A-5 DV Holdings Pte Ltd and SFG Digibank Investment Pte Ltd.
This marks the third capital infusion into GXS in under two years, bringing Grab’s total investment in the digital bank to $311 million since early 2024.
As one of four institutions awarded a digital banking licence by the Monetary Authority of Singapore (MAS), GXS continues to scale its operations and expand lending activity across Singapore and Malaysia.
The bank has reported strong growth in retail loan disbursals, with customer drawdowns more than doubling between March and June 2025, underscoring its expanding footprint in digital financial services.
The latest funding round further strengthens GXS Bank’s capital base as it moves towards full operational maturity under MAS requirements and continues its mission to deliver innovative, technology-driven banking solutions across the region.
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