In the first half of 2024, Singapore's fintech sector saw an increase in deal activity, with 117 transactions recorded—a 19% rise from H1 2023.
However, the total investment value dropped sharply by 34% to $522.89 million compared to the previous half-year, as investors shifted focus to smaller, early-stage deals. This trend mirrors global patterns, where overall fintech investments declined amidst economic uncertainties and high interest rates.
Notably, Singapore’s cryptocurrency and blockchain segment garnered $211.9 million across 72 deals, marking significant growth. Meanwhile, the payments segment attracted $80.2 million, though this was a 78% drop from H2 2023.
KPMG highlights increased caution among investors and a preference for early-stage deals, driven by interest in new technologies like AI and evolving business models in financial services.
Article from Asian Banking & Finance. Read more here or in the PDF below.
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