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Fintech Funding: Singapore based Fintechs Secured Nearly Half A Billion Dollars in Q1 2020 May 23, 2021 @ 8:47 pm By Omar Faridi Fintech businesses in Singapore have secured a total of SGD 656 million (appr. $492.8 million) in equity funding during Q1 2021. This figure represents a 355% increase from last year, according to a recent report from the Boston Consulting Group (BCG). The rise in Fintech investments was mainly due to Grab Financial Group’s massive SGD 417M (or $313.2M) Series A round in January 2021. The company said it would use the funds raised to further enhance its digital financial services. Other major Fintech funding rounds from this year include Indonesia-based agent-focused Fintech firm Payfazz’s $30 million investment in Xfers, a Singaporean payment processing platform, and Fintech Endowus’ SGD 23 million ($17.3 million) Series A round.

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