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.
Singapore based accelerator VC deepens presence in Asia biospectrumasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biospectrumasia.com Daily Mail and Mail on Sunday newspapers.
Accelerating Asia unveiled the fourth and largest cohort of its flagship 100-day programme for pre-Series A startups.
The fourth cohort consists of eleven new high-growth startups from Singapore, Indonesia, Pakistan and Bangladesh across ten verticals.
These eleven startups have raised over S$6 million coming into the programme, bringing the total capital raised by Accelerating Asia’s startups to over S$30 million, with 70% of investment raised since joining the Accelerating Asia portfolio.
Within a month since the fourth cohort began, the startups had already increased monthly revenue by 25%, up from an average of S$45,000 when they joined Accelerating Asia to S$56,000.
Accelerating Asia Reveals New Cohort of 11 Asian Startups
April 12, 2021 @ 10:57 pm By JD Alois
Accelerating Asia has announced the fourth cohort of its flagship 100-day program for pre-Series A startups. According to a release, the 11 startups have raised over S$6 million coming into the program.
The 11 new portfolio companies cover ten verticals and include companies from Singapore, Indonesia, Pakistan, and Bangladesh. New industry verticals include property, online dating and marketing/advertising.
Amra Naidoo, co-Founder and General Partner of Accelerating Asia, stated:
“We’ve selected cohort four from 500 startups from 30 countries, a record number of applications for us that shows the demand for a Singapore based accelerator with an international footprint. With just 2 percent of startups selected, the chosen 11 will be part of our largest cohort and are eligible to receive up to S$200,000 in investment from our VC fund.”
DISCUSSION TOPICS INCLUDE:
The future looks bright – what should women look forward to in the workplace? Is gender equality on the horizon?
What challenges have you faced as woman leaders? How did you overcome them?
How have you navigated work-life balance in your career? Has this changed during Covid-19?
How can women leaders empower future generations? What is the role of coaching and mentoring?
How far have we come in creating a workplace welcoming for all genders in Singapore? In Southeast Asia?
What can we recommend for the future, and how can we ensure both males and females are recognized equally for their contributions?