TechFlow news, according to a recent report by KPMG, Singapore's fintech industry raised a total of $2.2 billion in 2023, a 68% drop compared to last year, with the number of deals halved to 189.
The report指出 that high interest rates, persistent inflation, and geopolitical factors are the main reasons for the decline in investment activity. Meanwhile, investment and financing in Singapore's cryptocurrency sector also showed a downward trend, with investment volume decreasing by 86% year-on-year.
Nevertheless, cryptocurrencies remain the top focus for investors in Singapore's fintech sector, recording the highest number of deals last year.
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