69% rise in 9 months in fintech investments

By | October 16, 2019

FINTECH investments in Singapore for the 9 months all over Sept 30 jumped 69 percent to US$735 million from US$435 million within the same year-ago amount, in step with analysis from skilled services firm Accenture.

The number of fintech deals fell by virtually one-third (29 percent) to 94 from 133, showing that investors created larger bets into fewer deals as startups grow their business, aforementioned Accenture.

Angel and seed funding that focuses on the earliest stage of capital raising for startups born 56 percent to US$54 million, and also the variety of these deals declined 46 percent to 29.

Series funding, which generally targets firms wanting to grow their business with external capital as they mature, exaggerated 66 percent to US$442 million, though the number of deals was relatively unchanged at 44 versus 43 in the initial 9 months of 2018.

Besides the funding shift towards a lot of mature firms, payment startups and insurance companies additionally received important monies.

Investments in payment startups accounted for 34%of fintech fundraising, the disposition class took 20%, and insurtechs took seventeen percent

The value of payments deals over doubled to concerning US$251 million from US$117.5 million, creating the largest contribution to overall gains this year, aforementioned Accenture.