270 views
Photo by Alesia Kozik from Pexels

SG, Indonesia FinTech startups funding decline in 2024

Singapore tech startups raised $2.1b whilst Indonesia funding declined by 75%.

Singapore and Indonesia saw a decrease in financial technology startup funding by 15% and 68.45%, respectively, in 2024 compared to 2023, according to a Tracxn report.

Despite this, Singapore tech startups raised $2.1b in funding, representing a 56% increase from 2023’s $4.8b.

Meanwhile, the city-state’s high-tech startups saw funding increase by 4% in 2024 compared to 2023.

However, Indonesia only raised $323m in funding, a 75% decline from the $1.3b secured in 2023.

The insurance tech startups had the most funding, growing by 431.58% in 2024.
 

Join Asian Banking & Finance community
Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Malaysian and Thai central banks join SG’s BLOOM
They will ensure policy and regulatory considerations are taken into account.
CIMB denies plans to privatise Indonesian unit CIMB Niaga
The Malaysian banking group says no formal proposal has been made for its subsidiary.
Insurance
Kiatnakin Phatra Bank's Q3 profit jumps 43% to $71.1m
Wealth management helped lift fee income as earnings exceeded expectations.
Retail Banking

Exclusives

Banks told to stop playing Gen Z card
Complicated reward schemes and spending conditions can erode card benefits.
Banks rethink overseas ties as payments go digital
Bank of America sees common standards and round-the-clock liquidity as key hurdles.
Singapore opens door to foreign stablecoins under tighter rules
Banks may need separate companies to issue stablecoins under the proposed framework.