The players in SG’s increasingly global fintech space (update)

The table does not include companies present in Singapore, but headquartered in markets beyond Singapore.

This is the latest version of the article that was previously updated in April 2024. Since then, we’ve added new players to the list.

Singapore’s fintech sector experienced a recovery in 2024, with funding increasing almost 30% year on year to US$1.9 billion, Tech in Asia data shows. While total funding dipped in 2025, fintech startups in Singapore raised about US$1.6 billion, surpassing 2023’s levels.

In the first nine months of 2025, fintech firms headquartered in Singapore accounted for 87% of total fintech funding across the ASEAN economic bloc, a joint report by UOB, the Singapore Fintech Association, and PWC found. This was higher than the 65% it contributed in 2024. All six late-stage deals for the year also came from Singapore-based fintech companies.

Since Tech in Asia’s last update, a few companies have changed hands. Dash, the e-wallet launched by Singtel in 2014, was sold to Western Union and can now be used for overseas money transfers, while SME lending platform Validus’s Singapore business was bought by GXS Bank in 2025.

Others like crypto exchange Tokenize Exchange wound down operations after getting denied a digital payment token license last year, while buy now, pay later firm LatitudePay has ceased operations. Financial comparison site MoneySmart also withdrew Bubblegum, its general insurance brand, from the market last November, citing rising operational costs and “changes in market conditions.”

We’ve also added fresh names to the list like Ara, a platform that offers automated receivable management and debt collection for companies, and Datung, an MSME financing service mostly serving the Philippines. The former raised an undisclosed amount in a round backed by Iterative, while the latter raised US$125,000 from Antler.

Another notable new entrant is Pexx, which provides services like US dollar accounts and stablecoin cards. The firm raised US$4.5 million from investors, including Antler and Emo Capital.

Going global

Whether to serve local firms expanding globally or international companies serving customers in Southeast Asia, more fintech firms in Singapore are building up a presence in global markets like the US.

Airwallex, which raised US$630 million in 2025 – the most raised by any Singapore-based fintech business in the last twelve months – is one example.

The company, which provides services like multicurrency accounts and cross-border transfers for businesses, announced late last year that it would be setting up a second headquarters in the country to meet the growing demand from local customers.

The firm has committed over US$1 billion in investments into the US market by 2029, its CEO and co-founder Jack Zhang told Fox Business in an interview. It will also simultaneously scale its presence in the Europe, Middle East, and Africa region.

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