Financial technology fundraising in Singapore has soared this year as investors focus on mature startups in the payments and online insurance sectors.
Singaporean fintech companies raised $735 million in the first nine months this year, according to management consultant group Accenture. That represented a 69% increase from the same period last year.
While fundraising reached new heights, the number of deals dropped by 29% compared to last year. Of the 94 deals completed from January to the end of September 2019, 29 involved early-stage capital raising. This represented a 46% decline in the number of seed funding deals year-on-year.
In contrast, series funding...
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