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APAC fintech funding more than doubled in 2021

Private funding received by financial technology (fintech) firms in Asia-Pacific more than doubled to USD15.69bn in 2021 from just USD5.87bn in 2020, according to data released by S&P Global. The 2021 figure represented a 74% jump from 2019's pre-COVID-19 levels, the report added. Fintech companies in the region sealed 754 deals in the recent year, up 81% and 49% from 2020 and 2019, respectively, contributing to the surge in aggregate amount raised. Southeast Asia-based fintechs were close behind and registered the biggest funding growth in Asia-Pacific in 2021. Fintech startups in Southeast Asia netted USD4.70 billion across 217 transactions, up from USD1.13 billion across 118 deals in the prior year.

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