FinTech funding in Southeast Asia reached a record $3.5bn in the first nine months of 2021.
In Brief:
This is more than triple what was raised in the whole of 2020.
There were 167 deals in total..
These included 13 “megarounds” which raised $100mn or over.
What does this mean?
The findings are from a report by United Overseas Bank, PwC Singapore and the Singapore FinTech Association. Some of the most significant deals over the past year have been in Singapore and Indonesia.
There’s been a particular focus on later-stage FinTechs, which makes sense since these have been seen as less risky investments during the pandemic.
