7 Prominent Fintech Investors in Singapore Backing The Ecosystem

In 2023, Singapore continued to dominate the Southeast Asian fintech panorama, securing a complete of US$747 million in funding within the first 9 months of the yr or 59% of all fintech investments in ASEAN, based on knowledge from UOB, PwC Singapore, and the Singapore Fintech Affiliation (SFA), signifying a flurry of actions by fintech traders in Singapore

A few of these offers have been among the many largest rounds within the area and concerned regional leaders equivalent to Bolttech (US$246 million Collection B), Aspire (US$100 million Collection C) and Advance Intelligence Group (US$80 million Collection E).

Along with systematically claiming the lion’s share of fintech VC funding in ASEAN, Singapore additionally boasts the most important and most developed fintech ecosystem within the area. As of October 2022, the city-state was house to 1,580 fintech corporations, representing 39% of the 4,000+ fintech corporations introduced in ASEAN on the time.

As Singapore continues to guide the Southeast Asian fintech panorama, we glance immediately at among the most energetic traders backing the city-state’s fintech innovators. For this record, we’ve used knowledge from Tech in Asia, Dealroom and corporations’ bulletins, specializing in probably the most prolific fintech traders in Singapore and showcasing their participation within the native scene.

Antler (Singapore)

Headquartered in Singapore and established in 2017, Antlers is an early-stage investor with a concentrate on the expertise sector and is extensively thought-about an energetic fintech investor in Singapore. Based on the idea that individuals innovating is the important thing to constructing a greater future, Antler companions with distinctive founders throughout six continents to launch and scale startups that handle significant alternatives and challenges.

Antler operates in 27 cities throughout 6 continents, together with Austin, New York, London, Berlin, Stockholm, Bangalore, Jakarta, Singapore, Seoul, Tokyo, and Sydney.

Since 2018, Antler has helped create and invested in additional than 1,000+ startups throughout a variety of industries and applied sciences, with the aim of backing greater than 6,000 by 2030. In 2023, Pitchbook ranked the corporate because the seventh most energetic enterprise capital (VC) agency globally with 299 offers. Tech in Asia ranks Antler as probably the most energetic investor in Singapore, having participated in 66 offers prior to now 24 months.

In accordance with its web site, Antler has backed 95 Singaporean startups, amongst which 13 fintech startups. These ventures embody CashWise, a treasury administration platform for small and medium-sized enterprises (SMEs); Brick, a monetary knowledge software programming interface (API) that permits builders to supply in-app monetary companies; Pible, an embedded finance platform for Southeast Asian markets; and Volopay, a platform that simplifies enterprise spending for SMEs in Southeast Asia.

Seeds Capital (Singapore)

Based in 2001 and headquartered in Singapore, Seeds Capital is the funding arm of Enterprise Singapore, a authorities company supporting enterprise growth and development.

Seeds Capital focuses on co-investing with institutional companions, together with VC funds, company enterprise capital (CVC) arms, and household workplaces. Its emphasis lies in supporting revolutionary startups with strong mental content material and international market potential, notably within the superior manufacturing and engineering, well being and biomedical sciences, and concrete options and sustainability sectors. Moreover, the agency explores rising areas equivalent to agri-tech, synthetic intelligence (AI), blockchain, quantum, and area applied sciences.

Since 2017, Seeds Capital has deployed greater than S$220 million and stimulated greater than S$950 million of personal sector investments into greater than 160 corporations. The corporate’s portfolio encompasses over 100 startups and it collaborates with greater than 50 co-investment companions.

Tech in Asia ranks Seeds Capital because the second most energetic investor in Singapore, having participated in 32 offers prior to now 24 months. The corporate has no less than 10 fintech startups in its portfolio, together with Cover, a weathtech firm; CardUp, which gives people and companies with a better solution to pay and receives a commission; Crowdo is an environmental, social and governance (ESG)-driven neobank for micro, small and medium-sized enterprises (MSMEs); Propine, which gives digital securities, cryptocurrencies, stablecoins, non-fungible tokens (NFTs) and fiat custody on a single built-in platform; and Tookitaki is a regtech firm providing anti-financial crime options to banks and fintech companies.

SOSV (USA)

Based in 1995 and headquartered within the US, SOSV is a VC agency that gives pre-seed, seed, enterprise and development stage funding to startups within the expertise sector. The agency operates early-stage startup growth applications in New York Metropolis, Newark, San Francisco, Shenzhen, Shanghai, Taipei, and Tokyo, together with HAX (onerous tech), IndieBio (human and planetary well being), and Orbit Startups (rising markets).

Every year, SOSV selects about 100 extremely promising, seed and pre-seed startups to hitch its applications. The agency makes an preliminary funding of as much as US$500,000 and the founders spend four-to-six months working side-by-side with SOSV workers and mentors who’re deeply knowledgeable in science and engineering, design and product growth, provide chain and product-market match, development, and elevating capital.

As of January 2023, SOSV had greater than 1,000 portfolio corporations and US$1.5 billion in belongings underneath administration (AUM), and, based on Pitchbook, the agency is the highest ranked investor in local weather and meals tech.

In addition to well being, meals and local weather, SOSV can be an energetic fintech investor and presently has 54 startups in its portfolio working within the area. Amongst these, no less than 5 are from Singapore: BizBaz, which gives monetary intelligence options to monetary establishments, fintech companies, e-commerce and telecommunication corporations in Asia; ConfirmU, a business-to-business-to-consumer (B2B2C) startup that allows lenders to evaluate first-time debtors utilizing a three-minute recreation; Credmark, which gives high-integrity decentralized finance (DeFi) knowledge and threat metrics via a clear, community-driven platform; Ensuro, the primary decentralized, licensed (re)insurer on a public blockchain; and Pockets Engine, which helps app builders put a pockets inside their app, enabling them to earn cash from small-value, cross-border funds between customers.

SOSV has been among the many most energetic startup traders in Singapore, having participated in 27 rounds involving startups from the city-state over the previous 24 months, knowledge from Tech in Asia present.

East Ventures (Singapore)

Based in 2009 and headquartered in Singapore, East Ventures is main sector-agnostic VC agency that gives multi-stage funding, together with seed and development for over 300 corporations in Southeast Asia. Moreover, East Ventures has expanded its operations into Japan, contributing to its regional footprint.

Acknowledged for its early perception within the Indonesian startup ecosystem, East Ventures holds the excellence of being the primary investor in Indonesia’s unicorn corporations, Tokopedia and Traveloka. Different notable corporations in East Ventures’ portfolio embody Ruangguru, SIRCLO, Kudo (acquired by Seize), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.

East Ventures has additionally garnered international recognition, being named probably the most constant top-performing VC fund globally by Preqin, and incomes the title of probably the most energetic investor in Southeast Asia and Indonesia.

When it comes to regional influence, East Ventures boasts a portfolio that features 36 Singaporean startups amongst which Finantier, an open finance startup; Fraction, an entire, one-stop and full-service fractional possession platform;  Helical, a fintech investments platform that makes a speciality of the choice lending area; Moolah Sense, a market lending platform for SMEs; and Qapita, a fintech and legal-tech startup. Tech in Asia acknowledges East Ventures as probably the most energetic traders in Singapore, having participated in 26 rounds over the previous 24 months.

Wavemaker Group (USA and Singapore)

Wavemaker Group is a multi-faceted cross-border VC agency based in 2003. The agency is twin headquartered in Los Angeles and Singapore and has raised over US$600 million throughout a number of funds. It presently has a group of greater than 80 folks throughout its varied practices. Wavemaker Group claims it is likely one of the most energetic early-stage traders in Southern California and Southeast Asia and has invested in over 400 corporations within the final 18 years.

In Southeast Asia, Wavemaker Group focuses on enterprise and deep expertise corporations. In Singapore, the agency has invested in 76 startups, together with fintech corporations Pilon, which gives supply-chain financing and earned wage entry; Smartkarma, a platform that unites the fragmented funding trade, connecting traders, impartial analysis suppliers, and corporates inside a single community; Silent Eight, which gives banks with an AI-powered device to fight cash laundering and terrorism financing; Protect, a worldwide fraud threat administration answer that makes use of large knowledge and machine studying to ship immediate choices to foretell and block fraud; and STACS, an enterprise blockchain supplier and developer of a proprietary shared community for monetary establishments in Asia-Pacific (APAC).

Wavemaker Companions is likely one of the most energetic traders in Singapore, having participated in 26 rounds over the previous 24 months, based on Tech in Asia.

Peak XV Companions (India)

Peak XV Companions, previously Sequoia Capital India and SEA, is a number one VC and development investing agency investing throughout India, Southeast Asia and past. The agency operates throughout 5 workplaces in Bangalore, Mumbai, Delhi, Singapore, and Dubai, with a various group representing 14 nationalities.

Peak XV Companions’ distinctive strategy includes working aspect by aspect with founders to assist them notice their ambitions. The agency imparts information via bespoke recommendation, assist, and community-based applications equivalent to Surge, Spark, Pathfinders, Pitstop, Construct, and Guild. The agency collaborates with founders at varied phases, from as early as two folks with a paper plan to as late as their journey to go public.

With a outstanding 17-year monitor report within the area, Peak XV Companions has developed to handle over US$9 billion in capital via 13 funds and has invested in additional than 400 corporations. Roughly 40 of those corporations have achieved revenues surpassing US$100 million.

Peak XV Companions boasts a strong fintech portfolio, encompassing over 50 startups, with eight headquartered in Singapore. These embody Funding Societies, a SME digital finance platform working throughout Southeast Asia; Incomlend, a worldwide bill financing market for SMEs; StashAway, an clever funding administration platform; Sunrate, an clever international cost and treasury administration platform; Tazapay, a Singapore-based fintech firm designed to redefine the cross-border cost expertise; Tonik, a neobanking startup; and Trusting Social, an AI fintech firm revolutionizing credit score scoring utilizing large knowledge expertise, and social, internet, and cell knowledge.

Peak XV Companions is likely one of the most energetic traders in Singapore, having participated in 22 rounds over the previous 24 months, based on Tech in Asia.

500 World (USA)

Based in 2010 and headquartered within the US, 500 World is an early-stage enterprise fund and seed accelerator. The VC agency invests in founders constructing fast-growing expertise corporations and manages belongings totaling US$2.4 billion. It concentrates its efforts on markets the place the convergence of expertise, innovation, and capital can unlock enduring worth and stimulate financial development.

Over time, 500 World has established itself as a key VC investor, having supported over 5,000 founders representing greater than 2,900 corporations working in 80+ nations. It has invested in 35+ corporations valued at over US$1 billion and 160+ corporations valued at over US$100 million, together with non-public, public, and exited corporations.

500 World has a notable presence in Southeast Asia, notably within the fintech sector. It has backed greater than 60 fintech startups within the area, together with about 20 from Singapore. These corporations embody NFTgo, a NFT knowledge aggregator; Name Ranges, a real-time monetary monitoring and notifications app; Coinpip, a cryptocurrency cost supplier; InvestaX, a tokenization software-as-a-service (SaaS) platform; and Wallex, a cost and money administration answer for companies.