Singapore tops fintech funding in Southeast Asia for 2024 with $995 million

SINGAPORE: Singapore cemented its position as Southeast Asia’s (SEA) leading hub for fintech investment in 2024, raising an impressive $995 million, according to a report by Traxcn.

The country outpaced its regional counterparts by a significant margin, with Jakarta securing second place at $242 million and Bangkok ranking third with $198 million.

Singapore dominated the top five funding rounds in SEA, contributing to three of them. ANEXT Bank led the way with a $148 million Series D round, earning second place.

Close behind was Bolttech’s $100 million Series C round in third, while Partior’s $60 million Series B funding secured fifth place.

The report also highlighted Singapore’s role as a key player in early-stage fintech investment. Hashkey Capital and Signum Capital were ranked the second and seventh most active venture capital firms in seed funding, respectively.

Additionally, UOB emerged as the top performer in early-stage funding, further showcasing the city’s robust financial ecosystem.

Traxcn’s All-time Stats data reinforced Singapore’s dominance, revealing a cumulative $10.8 billion raised by fintech companies based in the country.

This dwarfed Jakarta’s $4.7 billion, making Singapore the undisputed fintech leader in the region.