Between 2016 and 2021, Singapore's high-net-worth and ultra-high-net-worth count rose by 126% and 158% respectively.
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Local WealthTech venture funding shrank slightly to exceed US$161 million ($225.29 million) in 2021, down from US$164 million in 2020. That said, the figure represents a sevenfold increase from just US$23 million in 2017.
This surge drastically outpaced the corresponding threefold increase seen globally (from US$2.63 billion to US$8.8 billion) and Asia’s twofold increase (from US$1.1 billion to US$2.2 billion) in the same period.
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