Photo credit: OCBC.
A total of US$46.2 million flowed into the Southeast Asian fintech sector across 21 deals in the second quarter, according to Tech in Asia database.
Fintech’s rise over the past year
With the numbers gained in the past quarter, fintech continues to see a significant growth, continuing the trend. In the span of one year, fintech startups in Southeast Asia received 86 investments. Only the ecommerce sector performed better, with 93 deals.
However, the total amount of cash poured into fintech was lower than what went into several other industries. This is because the fintech deals tend to be smaller, given that most of the startups are still in seed and series A stages.
Singapore leads the way
Singapore, the Southeast Asian fintech hub, tops the investment table by some margin from its neighbours, Indonesia and Malaysia. A couple of big rounds of investment into Quoine and Tagit strengthened Singapore’s status as the leading fintech nation in Southeast Asia.
Financial services is the most popular segment
One third of all fintech startups that got investments are in the financial services segment.
Canopy from Singapore and Pinjam from Indonesia are examples. Point of sales and consumer lending are also popular investment categories.
500 Startups is the most active VC
500 Startups was the most active venture capital firm in Asia last quarter, partly due to its investments in fintech startups in Southeast Asia.
500 Startups’ newest portfolio companies include Indonesia’s FinAccel (Kredivo), Malaysia’s StoreHub and StockRadars from Thailand.
Get the full details
Want to know more about Southeast Asian fintech investments in Q2 2016? You can download the full version of Southeast Asia Fintech Investment Report by filling out this simple form below.
Editing by Nadine Freischlad and Sim Yanting
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