Singapore’s positive showing comes amid the backdrop of falling investments in the global fintech sector, says the professional services firm. During the 2H2022, global fintech investments plunged by 62.3% h-o-h to US$44.9 billion from 1H2022’s US$119.2 billion.
Singapore’s fintech funding has hit a three-year high at US$4.1 billion ($5.47 billion) in 2022, up 22% y-o-y, according to KPMG’s Pulse of Fintech report for the 2H2022. The figure is also Singapore’s second highest fintech investment over the decade, behind 2019’s showing of US$5.62 billion just before Covid-19.
The US$4.1 billion was spread across 250 deals in mergers and acquisitions (M&A), private equity (PE) and venture capital (VC) over the year.
