ASEAN fintech funding dropped 36 % to round US$835 million within the first 9 months of 2025, however Singapore continued to attract the lion’s share of capital and strengthened its function because the area’s hub.

Funding drops to nine-year low as traders flip cautious

The Fintech in ASEAN 2025: Navigating the New Realities report, launched by UOB, PwC Singapore and the Singapore Fintech Affiliation, reveals that the area recorded its lowest funding degree since 2016 and the fewest offers in a decade.

Traders remained cautious amid market volatility and shifted their focus towards firms that would reveal clearer progress on profitability and scale.

Deal exercise fell sharply throughout the six largest ASEAN economies, with solely 53 transactions within the first 9 months of 2025.

Regardless of the slowdown, the typical deal dimension elevated 42 % to US$21.4 million as capital concentrated round corporations with stronger fundamentals.

Late-stage firms captured 67 % of complete funding, a 24 proportion level improve from final yr, supported by three mega offers amounting to just about US$450 million.

Common late-stage deal values rose to about US$112 million, reflecting continued investor confidence in corporations with established income fashions.

Singapore widens its lead whereas regional markets face stress

Singapore remained the area’s strongest performer. It attracted greater than US$725 million, or 87 % of ASEAN’s complete funding, up from 57 % final yr.

The nation additionally accounted for greater than half of all offers, pushed largely by exercise in blockchain for monetary providers and funding expertise.

Pre-series and early-stage rounds made up most of Singapore’s deal rely, indicating ongoing alternatives for rising gamers.

Eight of ASEAN’s ten most-funded fintechs this yr are based mostly in Singapore, together with 5 late-stage corporations.

Circumstances have been more durable elsewhere. Indonesia’s share of funding fell from 20 % to 4 %, and its deal rely dropped from 23 to 10.

The Philippines matched Indonesia with 5 offers, together with an early-stage spherical for lending platform Salmon, which secured ASEAN’s sixth most funded deal.

Malaysia, Thailand and Vietnam collectively accounted for lower than 10 % of regional funding and noticed a noticeable decline in exercise.

The report notes that ASEAN’s fintech sector is shifting towards extra disciplined progress, with life like valuations, tighter value administration and a stronger emphasis on long-term sustainability.

Regardless of the downturn, the area continues to check fintechs on their skill to maintain innovation in a unstable and unsure surroundings.

Cross-border collaboration and regulatory alignment stay vital to supporting long-term competitiveness.

Janet Younger, Managing Director and Group Head, Channels & Digitalisation and Strategic Communications & Model, UOB, mentioned,

“As ASEAN’s fintech sector recalibrates, innovators proceed to indicate outstanding resilience. The rise in common deal dimension and powerful efficiency of late-stage firms underscore investor confidence within the area’s long-term potential as a thriving digital financial system.

We consider that innovation is the important thing to driving sustainable progress and monetary inclusion. Guided by our dedication to constructing the way forward for ASEAN, we are going to proceed to foster collaboration, assist the catalysing of recent options and empower companies to grab the alternatives within the digital future.”

Holly Fang, President, Singapore Fintech Affiliation, mentioned,

“Singapore’s place because the area’s main fintech hub displays the energy of its collaborative ecosystem, the place regulators, monetary establishments, and innovators work collectively to drive significant change and sustainable progress.

The sector’s concentrate on sustainable progress and profitability marks an vital step within the maturation of the fintech ecosystem, the place corporations are being examined on their skill to maintain innovation amid an more and more unstable and unsure surroundings.”

The Fintech in ASEAN 2025: Navigating the New Realities report was launched on the Singapore Fintech Pageant.