FinTech funding has risen steadily to fuel this growth. by Fintechnews Singapore December 17, 2020 Despite global turbulences caused by COVID-19, the Singapore fintech industry remained resilient in 2020 on the back of new favorable rules, fintech initiatives from the government, and … Providing easy access to financial market information. With Singapore fintechs taking 51% of ASEAN funding as of Q3 2019, it comes as no surprise that investors may be keen to learn more about the country’s fintech landscape.. Singapore has over 40 innovation labs, more than 500 fintech start ups, SGD500 million in record-high fintech investments in 2018, and USD12 billion in capital for ASEAN enterprises. Services: Group savings, borrowing digital chits, digital transactions, Legal processes, lower borrowing rates, 151 Chin Swee Road, #07-12, Manhattan House, Singapore 169876. Fintech investment in Asia fell to US$2.4 billion in Q2 from US$3.1 billion in the first quarter of the year. Fintech recruiter Storm2 have launched their second global hub in Singapore after only launching in August 2019. Amid the Covid-19 pandemic, it … Much of this overseas investment is visible in the growing number of regional headquarters belonging to overseas technology firms that have sprung up in Singapore. There is more to GrabPay than … Destroy your competition online! fintechfutures.com/2021/01/female…, Raiffeisen Bank International [@RBI_Presse] invests in a Romanian start-up Finqware, [@FINQware] which is driving o… twitter.com/i/web/status/1…, Tom Blomfield [@t_blom] exits @monzo and opens up about mental health during COVID-19 MatchMove makes it easy to put essential financial services in any app with their Spend.Send.Lend. improve your experience and our services. Startupbootcamp FinTech is the leading global accelerator focused on financial innovation. fintechfutures.com/2021/01/spectr…, . Over 100 payments, risk and shipping solutions 1-click away. Best home loans. Services: Fintech, digital financial services, digital banking, contextual recommendations, chatbot development, 73 Ayer Rajah Crescent, #02-16, Singapore 139952. The reason many of the world’s most innovative companies are looking to Singapore can be explained by the country’s longstanding record of support for emerging industries. Singapore has a long history of embracing foreign direct investment, which rose from $10.85bn in June 2017 to $19.13bn to June 2018, according to Enterprise Singapore, a government agency. In 2005 mobile security start-up tenCube raised S$600,000 thanks to the government’s injection and, five short years later, was acquired by McAfee for S$25m. Singapore, which has held the 4th rank in GFCI’s ranking of global financial centres, also ranked 8th in its inaugural fintech survey, scoring “consistently high across all categories.”. ABOUT SINGAPORE FINTECH ASSOCIATION We are a cross-industry NON PROFIT initiative, intended to be a platform designed to facilitate collaboration between all market participants and stakeholders in the FinTech ecosystem. The end-to-end benefits of cloud-first transformation Total transaction value in the Digital Payments segment is projected to reach US$11,200m in 2021. Moneythor seeks to make digital financial services more relevant, customized. Services: Social trading app, Finance app, virtual cash, virtual trades, mobile trading app, 10th Floor, Linen Court,10 East Road London N1 6AD, United Kingdom Singapore, Singapore. Grab | App-based ride-hailing aggregator & hyperlocal delivery service provider. Singapore’s success is no recent flash in the pan. Find the lowest interest rates for personal loans. Services: Financial technology firm, financial technology consultancy, investor orders, loans, crowd funding, 54A Amoy Street Singapore, Singapore 068809. By Dario Acconci, Hawksford MD for South East Asia. Singapore-based fintech startup Volopay announced it has raised US$2.1 million in a seed funding round led by Tinder co-founder Justin Mateen. Referring to Wikipedia, it describes “Fintech” as “Financial technology, also known as FinTech, as a line of business based on using software to provide financial services. Singapore FinTech Association's success could only have happened with the help of our members community. This list of companies and startups in Singapore in the fintech space provides data on their funding history, investment activities, and acquisition trends. Whether home-grown or a recent arrival, every technology company in Singapore benefits from the country’s excellent IT infrastructure. Make smart financial decisions. The latest of these – Research Innovation and Enterprise 2020 – earmarked $19bn for investment in the country’s digital economy, as well as advanced manufacturing and engineering, health and biomedical sciences. Services: Blockchain, digital asset technology, global payments, decentralized fintech, enterprise blockchain company, CoAssets Group is South East Asia’s leading financial technology firm. They are insiders (Mittal is EY’s fintech partner and an investor; Koh is a senior academic) who have been engaged in the country’s fintech agenda from the start. FundedHere has built an ecosystem for both investors and businesses, leveraging on Singapore as a springboard for the rest of Asia. Although, prior to usual business decisions, you should seek professional expertise that tailors financial advice customized to your specific circumstances. Services: Fintech, financial market information, conversational banking, AI market monitoring mobile application, Data analytics, 1 #07-07, One Pemimpin, Pemimpin Drive, Singapore 576151. Track every transaction. Every fresh tide of technological innovation enhanced the financial system that most people utilized from day to day, but seldom had to completely transform, upgrade. GrabPay. Today, the FinTech industry experiences the huge changes. There are many diverse categories of fintech, but some of the highly prevalent fields are: Mobile wallets and payment apps are definitely examples of highly prevalent modes of fintech. In just a few short years, investors, regulators and the FinTech community have worked successfully. With Singapore fintechs taking 51% of ASEAN funding as of Q3 2019, it comes as no surprise that investors may be keen to learn more about the country’s fintech landscape.. Singapore has over 40 innovation labs, more than 500 fintech start ups, SGD500 million in record-high fintech investments in 2018, and USD12 billion in capital for ASEAN enterprises. Before this period, the idea was that there are highly, pervasively powerful monopolies, and subsequent to the history of prevailing banks- no entity has managed a competent payments company after PayPal. Singapore’s success is no recent flash in the pan. The deal is designed to allow fintech firms in Singapore and Australia to speed up the process of entering each other’s markets. Singapore has also made efforts to remain at the forefront of regulation and best practice. KPMG’s Pulse of Fintech report in February 2018 revealed that Singapore received US$229.1 million worth of fintech funding in 2017 – a record high. Therefore, we urge you to contact the service provider above for the correct information and/or contact us with the correct information. Save my name, email, and website in this browser for the next time I comment. Services: Digital Lending Platform, investing, investment avenue, funds transfers, monitor your investments, 150 Cecil Street #03-00 Singapore, Singapore 069543. Photo: AFP/ROSLAN RAHMAN. A substantial portion of that rise can be attributed to fintech. Recorded by the Federal Deposit Insurance Corporation, banks evolved from about 13,500 commercial bank branches in 1950 to over 83,000 in 2008. Crowdfunding platforms, such as Kickstarter and GoFundMe, have transformed conventional funding modes by allowing platform users to invest their cash in businesses, products and personas. Each year we provide funding, collaboration, coaching, mentorship, office space in Singapore and access to a global network of corporate partners, mentors, investors and VCs, for up to 12 selected FinTech and InsurTech startups selected across the globe. MoolahSense is a fascinating investment avenue where you can interact directly with the business owner, select the industry that you wish to invest in, offers relatively higher interest rates, transparency and flexibility in tenure. Now, fintech innovations are disrupting the old financial system, with multiple services evolving to a novel technological framework, including the use of payment apps on a mobile wallet instead of carrying physical credit cards in a tangible wallet. FinTech Singapore has grown spectacularly at a rapid speed. Singapore’s FinTech journey is about innovation, inclusion and inspiration. Fintech in Singapore: Leading the Region in 2019 In 2019, out of US$1.14 billion (S$1.58 billion) that was raised by fintech startups across ASEAN (as of September 2019), 51% of that went into Singapore [Source] As of September 2019, Singapore is home to 45% of fintech companies in ASEAN [Source] FIs can help clients proactively identify and respond to potential problems. The term “Fintech” has made an official, registered entry into the Oxford dictionary and is described as “Computer programs and alternative technology utilized to enhance or facilitate banking and financial services”. Other investors in the round include Soma Capital, CP Ventures, Y Combinator, VentureSouq, Antler, as well as angel investors such as the founders of Indian fintech firm Razorpay, Shashank Kumar and Harshil Mathur. Asia-based private equity firm Navis Capital Partners has made an investment in Singaporean fintech startup Moneythor for an undisclosed amount. The number … Grab, a locally grown ride-hailing company recently secured $700 million from Japanese bank Mitsubishi UFJ Financial Group (MUFG), to support the company’s ambitious entry into the fintech space. Making it possible for customers to do any type of transaction and business. Your email address will not be published. "Banks have relied on the “five p’s” – people, physical cash, premises, processes and pape… twitter.com/i/web/status/1…, Female-led tax reporting fintech @KAWatsonConsult takes tech into own hands Banks and bad actors: the race to digitally adapt. Services: Trading, Exchange, Next generation financial services, Blockchain technology, QASH token. Services: Funding, crowdfunding, Lending, Investing, Financing, Manhattan House,151 Chin Swee Road, 04-01 Singapore, Singapore 169876. Other notable technology success stories include local start-ups like Carousell, a mobile classifieds ads firm, and Shopback, a cash rebate platform. Perfect the art of incremental business improvements in the cheapest and most efficient ways, before the competition. 40+ Global Satellite Events. Services: Digital Wealth, Digital investing experience, Regionally compliant wealth services, Robo advisory Solution, customized portfolios. The applications of blockchain are also being widely used and explored in the country’s FinTech sector. Conversion Rate Optimisation (CRO) Service, Copywriting For Sales, Website, SEO, Ecommerce, Creative, Messaging, Fintech in Singapore: Market Capitalization. Join exclusive members-only events, workshops, learning journeys and more! 2020 review: Top 10 fintech and bank M&A deals. Financial services are far from reaching a “new normal”. They offer innovative, scalable, regionally compliant wealth services. Moreover, the concentration of FinTechs in Singapore and their diversity in terms of their business models demonstrate that Singapore is an attractive FinTech centre. There is no charge! TMsolutions. They have helped 904,777 Singaporeans find the right products for their needs. Going cashless is easy with GrabPay. Its Cybersecurity Bill, which received assent 2 March 2018, established a robust framework for oversight and maintenance of security and data protection processes. Success in Singapore hinges on an understanding of its past, present and future. Services: Digitalizing supply chains, making payments, account control, transaction management, online transactions, 9 Raffles Place, Republic Plaza #506 Singapore, Singapore 048619. Singapore’s fast-growing 1,000+ Fintech sector includes a thriving Wealthtech segment which is on track to continue growing and maturing. They help you access fast funding easily via invoice financing, so you can focus on the things that matter to your business – growth. If a fintech entrepreneur was looking for a jurisdiction in which to begin operations, why would it choose yours? FinTech funding has risen steadily to fuel this growth, exhibiting resilience amidst the pandemic. It has developed over years, with much credit due to the foresight and long-term strategy enacted by its government and business leaders. "As Korean fintech startups are receiving a high level of attention in the Southeast Asian countries including Singapore, we will build competitive power and accelerate our entry into the market." Required fields are marked *. Storm2 is a specialist FinTech recruitment agency and have just launched their second office in the Central Business District in Singapore. Door A6, RES bldg., phase 3, corner apo st. Central park, bangkal, Davao City 8000 Philippines, Top Fintech Service Providers in Singapore. A Bank in Any AppTM. This list of companies and startups in Singapore in the fintech space provides data on their funding history, investment activities, and acquisition trends. Tx’s Singapore office will be its regional headquarters for APMEA and will comprise client services and technical delivery teams. 1 Pass, 2 Events. Copyright © 2021 Informa PLC. There are 1,132 FinTech startups in Singapore. What Fintech Services are Popular in Singapore Right Now? Financial technology has transformed modes in which people bank, invest and shop over the past few years. Services: Financial Risk Protection, Monetize Your Data Assets, SAAS Merchant Acquiring, Payment Solution Library, Intelligent Routing, 2 Sims Close, #07-09, Gemini @ Sims, Singapore 387298. Among the most recent of these was that of digital banking software provider Backbase, which cited the ideal location, large economic potential, access to specialised workers, and the strong foundation for a ‘digital-first approach’ as reasons to establish its HQ in Singapore. Trending . 40+ Global Satellite Events in FinTech hubs around the world, comprising physical and digital formats; SFF 2020 BY THE NUMBERS. Storm2 is a specialist FinTech recruitment agency and have just launched their second office in the Central Business District in Singapore. contact us (65) 6789 9852. contact us (65) 6789 9852(65) 6789 9852 From a global comparison perspective it is shown that the highest cumulated transaction value is reached in China (US$2,915,347m in 2021). SINGAPORE-BASED fintech Volopay has raised US$2.1 million in seed funding led by Justin Mateen, a co-founder of US dating app Tinder, the startup announced on Tuesday. Singapore is actively moving towards being a smart nation and the fintech sector is one of the fastest growing sectors in the country. Services: Interactive web application, Canopy Analytics module, Canopy Reporter, risk analytics, financial metrics, Payment Platform as a Service: What would the impact to your business be if any payment product needed was one click away? "FinTech for an Inclusive Society and a Sustainable Planet" - Remarks by Mr Ravi Menon, Managing Director, Monetary Authority of Singapore, at Singapore FinTech Festival 2020 on 8 December 2020 In his keynote speech at SFF x SWITCH 2020, Mr Ravi Menon, Managing Director, MAS, spoke on leveraging FinTech to create a more inclusive society and a more sustainable planet. Singapore-based FinTech startup … The Singapore Fintech Festival is a celebration of belief. They customize reports to your preferences for all your data analysis needs. Stock trading apps, inclusive of Robinhood and Acorns, now emerge as prevalent and novel examples of fintech as investors can trade stocks from any location using mobile devices rather than consulting a stockbroker. One size almost never fits all. What if the work taxing your Finances and IT & OPS resources was eliminated? That utilize technology to enhance efficiency of financial services are far from reaching a “ new normal ” and! 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