Fintech investments in Singapore nearly quadrupled to US$453m in H1 2019: report

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FINTECH investments in Singapore nearly quadrupled to US$453 million in the first half this year, up from US$118 million in the year-ago period - placing the country as the third largest fintech market by funds in Asia-Pacific, just behind China and India. This is according to the latest research by Accenture, which analysed data from CB Insights, a global venture-finance data and analytics firm. Read more at The Business Times.

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FINTECH investments in Singapore nearly quadrupled to US$453 million in the first half this year, up from US$118 million in the year-ago period - placing the country as the third largest fintech market by funds in Asia-Pacific, just behind China and India. This is according to the latest research by Accenture, which analysed data from CB Insights, a global venture-finance data and analytics firm.

About 28 per cent of the total funds raised in the period went to insurtechs, while fintech companies in payments took 27 per cent, and those in lending took 25 per cent, the data showed. Globally, investment in fintech ventures fell sharply in the first half of 2019, as fundraising and deal activity in China that had soared a year earlier ground to a halt, partially offsetting strong gains in the US, UK and several other European countries, Accenture noted.

Specifically, the value of deals in the US jumped 60 per cent to US$12.7 billion, though the number of transactions was virtually unchanged from the same period last year, signalling a trend of larger deals in the world's biggest and most active fintech market, the report highlighted.

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