Fintech at the forefront of 2022’s Hottest Startups list

April 25, 2022

Fintech has proven anew that it is a force to be reckoned with in Singapore’s startup economy by being able to amass approximately $5.40b (US$3.94b) funding in 2021, and dominating the eleventh edition of Singapore Business Review’s Hottest Startups List.

In this year’s list, the vertical took over eight of the 20 spots, led by Spenmo which secured $45.70m in its latest funding, followed by Syfe ($40.33m), Volopay ($39.59m), Endowus ($35m), CyberHash ($26.96m), Xen Capital ($10.08m), Jenfi ($6.3m), and STACS ($4.85m).

Capital not only poured into these eight fintech ventures but also into the entire Singapore startup economy as they gathered $11.2b in funding in the first nine months of 2021 alone, which was already double the amount raised for the entire 2020 at $5.5b, according to Enterprise Singapore.

Read the complete article on Singapore Business Review >

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