Singapore's growing fintech sector displays resilience amid downturn

Surge in digital services use expected to further entrench nation as global hub

Fintech firms in Singapore raised $462 million in equity funding in the first half of this year - 19 per cent higher than in the same period last year, says research unit BCG FinTech Control Tower.
Fintech firms in Singapore raised $462 million in equity funding in the first half of this year - 19 per cent higher than in the same period last year, says research unit BCG FinTech Control Tower. ST PHOTO: YEN MENG JIIN
Ovais Subhani
Senior Business Correspondent
Updated
Jul 20, 2020, 10:43 AM
Published
Jul 20, 2020, 05:00 AM
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Fintech in Singapore has shown remarkable resilience even as the economy faces its worst downturn amid the coronavirus outbreak.

The surge in digital services use during the Covid-19 crisis is expected to further entrench the Republic as a global fintech hub.

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A version of this article appeared in the print edition of The Straits Times on July 20, 2020, with the headline Singapore's growing fintech sector displays resilience amid downturn. Subscribe

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