Singapore Business Review website works best with Javascript enabled. Please enable your javascript and reload the page.
More rich people, digital tools are behind the rise
Wealthtech venture funding in Singapore hit US$161m in 2021, a seven-fold from 2017 when funding was just US$23m and 2021, according to data released by Endowus and KPMG.
Whilst this was slightly lower than in 2020, when wealthtech venture funding hit US$164m, the growth outpaced the rest of the world. Globally, wealthtech venture funding rose three-fold to US$8.8b from US$2.63b in 2017. In Asia, the funding doubled during the past four years, from US$1.1b in 2017 to US$2.2b in 2022.
In Singapore, wealthtech funding grew thanks to the proliferation of digital investing tools and digital advisory, KPMG and Endowus found.
The growing pool of high net worth individuals (HNWI) and ultra HNWIs also contributed to the rise in wealthtech funding and wealthtech firms offering more digital solutions. The number of HNWIs more than doubled from 2016 to 2021, rising 126%. For HNWIs, the rise was 158%.
“The inflow of wealth from other leading hubs in Asia was boosted by a robust ecosystem for innovation and fintech development attributed to strong government support and the established reputation of Singapore as a global financial hub,” the report added.
…there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!
Copyright © 2022 Charlton Media Group.
Web Design by: Halcyon Web Design
Copyright © 2022 Charlton Media Group.
Web Design by: Halcyon Web Design