Economic headwinds have been having an impact across the investment space. Global venture capital (VC) investment has fallen, with S&P finding investment volumes had dropped 64.7% year-on-year to February 2023, sliding from $48.22bn a year earlier to just $17bn. As interest rates rise and returns decrease, investors are becoming more selective on where they put their funds.
Yet, some spaces are still capturing interest. Asia’s fintech space continues to enjoy significant funding as investors look to tap this expanding market. In its Pulse of Fintech H2 2022 report, KPMG outlined how fintech investments in Singapore alone during 2022 reached a three-year high, with a total of $4.1bn across 250 deals. Across the whole region, a record $50.5bn in fintech investment was recorded across 1227 deals. What has helped to motivate this is the wide variety of emerging fintech services.
