Investors have pumped record amounts into south-east Asian financial technology companies this year, as locked-down consumers have switched to mobile payment and banking apps.
According to data from analytics group Refinitiv, there have been 80 fintech deals worth $3bn in 2021 — more than what was raised in 2020 and 2019 combined.
“The fintech space has taken off this year, and not only fundraising,” said Rohit Sipahimalani, chief investment strategist at Temasek, the Singapore state-backed company. “Many more businesses are maturing and gaining momentum.”
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