Singapore’s Fintech Surge: Key Investors Driving Innovation
Singapore aspires to solidify its status as a premier fintech destination, fueled by government support, a vibrant fintech ecosystem, and a vast network of investors eager to fund groundbreaking ventures. The city’s fintech landscape is blossoming, with startups securing impressive funding amounts. In fact, according to KPMG’s Pulse of Fintech report, Singapore fintech startups raised a record US$229.1 million in 2017, and this upward trend shows no sign of slowing.
Key Players in Singapore’s Fintech Investment Scene
In the heart of this financial revolution, several prominent investors and venture capital (VC) firms stand out. Here’s a closer look at eight notable players:
Temasek Holdings
Temasek Holdings serves as the sovereign wealth fund for the Government of Singapore. Specializing in growth capital, it focuses on innovation-driven businesses, investing across a broad spectrum that includes telecommunications, financial services, life sciences, and more.
Among its fintech investments are notable players like Policybazaar, Ant Financial, and CashShield. Temasek’s strategic investments play a crucial role in shaping Singapore’s fintech landscape.
SGInnovate
With a mandate from the National Research Foundation of Singapore, SGInnovate backs startups in the local and global deep tech scene. It manages two main funds—one for early-stage Singapore startups and another targeting technology gaps.
SGInnovate’s fintech portfolio features promising companies like AIDA and AID:Tech, reinforcing its commitment to fostering innovation.
Jungle Ventures
Founded in 2012, Jungle Ventures is a VC firm focusing on early-stage investments in the Asia-Pacific and US markets. Its diversified portfolio spans various sectors, including fintech.
Investments include companies like PaySense and Fastacash, showcasing Jungle Ventures’ comprehensive market reach.
Life.SREDA
Established in 2012, Life.SREDA is an international VC firm headquartered in Singapore that emphasizes fintech investment through its two funds, Life.SREDA I and II, along with its blockchain-focused BB Fund.
Investing globally, Life.SREDA has backed over 20 fintech companies in markets like digital payments and insurtech, representing an increasingly significant presence in the fintech arena.
Golden Gate Ventures
Golden Gate Ventures has been an early-stage VC firm in Southeast Asia since 2011. Its investments cover a multitude of internet and mobile startups, enhancing Singapore’s vibrant entrepreneurial ecosystem.
Fintech investments such as Codapay and MoneySmart.sg underscore its commitment to integrating technology in various financial services.
Qualgro
Qualgro primarily invests in B2B enterprises, particularly in data and SaaS sectors, targeting companies with regional or global growth potential. Its investments in fintech firms like Funding Societies highlight the firm’s dedication to supporting high-quality teams.
EDBI
EDBI has a long-standing history of investing in high-growth sectors, including fintech, since 1991. This Singaporean investor supports companies aiming to expand within Asia and globally.
Notable fintech investments include Bitmain and M-DAQ, reflecting EDBI’s strategic emphasis on growth industries.
Pix Vine Capital
Founded in 2007, Pix Vine Capital targets early-stage startups across infotech, medtech, and fintech sectors. With a focus on digital payments and cryptocurrency, Pix Vine collaborates with universities and research labs to nurture startup growth.
Companies like MoolahSense and Paygilant represent its commitment to advancing financial technology solutions.
Singapore’s fintech landscape is vibrant and ever-evolving, with these investors playing pivotal roles in supporting and scaling innovative technologies. As the city continues to grow as a leading fintech hub, the collaboration between investors and startups promises to fuel further breakthroughs and advancements in the financial technology sector.