Chart of the Day: Singapore secures highest FinTech funding in ASEAN
Total FinTech funding in Singapore YTD reached $1.8b.
Singapore and Indonesia are the top markets in terms of Fintech funding mainly due to the 10 mega deals that comprised 37% of all funding in the region, according to a chart from FinTech in ASEAN 2022: Finance, reimagined report.
Of the total 163 deals year-to-date, Singapore FinTech firms secured 55% of which, amounting to $1.8b, according to the report published by UOB, PwC, and the Singapore FinTech Association.
This accounted for 43% of the total US$4.3b funding year-to-date.
READ MORE: 4 factors intensifying talent gap in the FinTech sector
Singapore is followed by Indonesia which held 25% of the total deals amounting to US$1.4b, accounting for 33% of the total funding, increasing from 22% in 2021.
The Philippines accounted for 8% of the funding, whilst Thailand (6%), Malaysia (5%), and Vietnam (5%).
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