Here are the top-funded fintech startups of Singapore in 2019

Within the Southeast Asian region, Singapore has always been seen as the hotbed of fintech innovation due to the opportunities it has and the support that is given by its government. For example, the government has recently announced a Sandbox Express initiative that supports faster market testing for financial firms’ products and services.

It is not surprising to see many fintech startups thriving in the country. In fact, the TechNews startup database revealed that there are at least 400 companies listed that are working in the finance sector.

Many of these startups have also raised more than US$10 million early- and growth-stage funding. We have gone through more than half of the year and discovered four of the most notable funding rounds in fintech in Singapore.

The following is a list of those funding rounds:

Bambu

Funding: US$10M Series B (July 2019)
Investor(s): Franklin Templ​eton, PEAK6 Strategic Capital

Bambu, a Singapore-based startup providing digital wealth technology for B2B businesses across the globe, plans to use the new funding to reach a wider B2B audience.

StashAway

Funding: US$12M Series B (July 2019)
Investor(s): Eight Roads Ventures, Asia Capital & Advisors

StashAway, a robo-advisor for both retail and accredited investors, wants to use the new funding to support product development and Asia Pacific expansion plan.

YouTrip

Funding: US$25.5M Pre-Series A (May 2019)
Investor(s): “major Asian family offices”, Insignia Venture Partners

Singapore’s first multi-currency mobile wallet YouTrip will use the funding to drive the development of YouTrip’s technical payment infrastructure, to launch of new product features, and proceed with its regional expansion plans in Southeast Asia.

Credit Culture

Funding: US$29.5 million
Investor(s): RCE Capital Berhad

Credit Culture is a Singapore-based fintech startup that is among the six entities selected for a pilot by the Ministry of Law. This funding is meant to build its operational capability.