This makes it the highest amount of investments the country has seen since the first half of 2023, where investments had hit US$1.59 billion across 125 deals. Compared to H1 2024, deal values had risen by about 87 percent year-on-year, and 28 percent from H2 2024.

Investments were predominantly driven by deals in the payments, cryptocurrency and AI and machine learning verticals, which accounted for the lion's share of the total deal size recorded for Singapore. Deals in the payment vertical were spread equally across early and late-stage deals, while cryptocurrency and AI and machine learning verticals largely saw early-stage deals.

Global fintech investments saw $44.7 billion across 2,216 deals in H1 2025, a dip from the $54.2 billion recorded across 2,376 deals in H2 2024.

"The data for Singapore shows that the country is seen as a strategic hub for fintech innovation, supported by robust regulatory frameworks that have shaped a financial ecosystem known for its efficiency, resilience, and trustworthiness," said Anton Ruddenklau, Partner, Head of Financial Services, KPMG in Singapore and Global Head of Fintech and Innovation for Financial Services, KPMG International.

"In a climate shaped by global trade tensions, the ability to enable decentralised, tech-driven, and non-traditional financial solutions will be critical. As traditional financial flows face disruption, the demand for agile, resilient infrastructure will see higher demand," he added.

Fintech verticals	Singapore		Global
	Ranking	Deal Size US$ (million)	Ranking	Deal Size US$ (million)
Payments	#1	474.66	#4	4,644.02
Crypto	#2	254.10	#1	8,371.1
AI & ML deals	#3	234.50	#2	7,220.16
InsurTech	#4	147	#3	4,800
Reg Tech	#5	39.80	#5	2,079.3
Cybersecurity	#6	6.50	#9	115.2
ESG (New)	#7	0*	#6	1,134.77
Proptech	#8	0*	#7	331.0
WealthTech	#9	0	#8	214.2

*Deal sizes were not revealed despite some deals being recorded

Singapore's fintech payments sector defies global trends

In Singapore, fintech investments in the payments sector climbed to US$475 million in the first half of 2025—an almost eightfold increase from H2 2024. Globally, the payments segment saw US$4.6 billion in H1 2025.

In Singapore, this rise was anchored by mega-deals such as Airwallex's US$301 million raise, positioning the country as a regional epicenter for digital payments innovation.

"Singapore's fintech firms are capitalising on the demand for agile, interoperable payment platforms that can navigate tariff-induced complexities," said Mr Ruddenklau.

Deal records indicate that the top three deals targeting companies focused on cross-border payment solutions.

This trend highlights not only the sustained demand for digital payment applications, but also a growing appetite for infrastructure that enables real-time, cross-border retail and commercial transactions. As global commerce becomes increasingly digital and interconnected, investors are prioritising scalable, tech-enabled platforms that can address the complexities of international payments—such as compliance, currency conversion, and settlement speed—while maintaining security and user trust.

Singapore's digital assets and currencies sector leads in deal activity amid global momentum

Singapore's digital assets and currencies sector recorded 48 deals in H1 2025—the highest number of deals among all fintech verticals—despite a slight dip from 53 deals in H2 2024. With US$254.1 million in investments, the sector ranked second in deal value, underscoring its resilience and investor appeal.

The two largest deals were secured by protocol provider Giants Planet and blockchain intelligence and tooling platform Coinseeker.co, each raising US$30 million.

This could be early signs of an emerging trend where institutional stakeholders are driving the demand for regulated financial services, pushing up demand for infrastructure that allows for scalability, interoperability, and real-world utility.

Investors are increasingly backing platforms that can support secure, compliant, and high-throughput ecosystems. The emphasis on infrastructure also reflects growing demand for enterprise-grade solutions that can integrate with traditional financial systems while enabling decentralised innovation.

AI-powered fintech continues to surge in Singapore

Singapore's AI-powered fintech sector saw a new high in H1 2025, with the artificial intelligence and machine learning vertical attracting US$234.5 million across 22 deals— surpassing previous records seen in 2023 and 2024.

A large share of these investments was directed toward business productivity tools and financial software, reflecting a strong appetite for AI solutions that enhance operational efficiency and support digital transformation.

Looking ahead, we could possibly see more hyper-personalised financial services, where AI tailors products and advice to individual user behaviours and preferences. Regulatory technology (RegTech) is also set to expand, with AI streamlining compliance and risk management in increasingly complex financial environments.

Global Key Highlights for H1'25

• Global fintech investment saw the softest six-month period since H1'20, with just $44.7 billion in investment across 2,216 deals.
• Global M&A deal value fell from $26.7 billion in H2'24 to $19.9 billion in H1'25, while PE investment fell from $4.4 billion to $1.4 billion; global VC investment remained steady over the same timeframe, rising marginally from $23 billion to $23.4 billion.
• The EMEA region was the only major region to see fintech investment grow—from $11.1 billion across 780 deals in H2'24 to $13.7 billion across 759 deals in H1'25.
• The Americas attracted the most fintech investment in H1'25, with $26.7 billion invested across 1,092 deals in H1'25—down from $35.7 billion across 1,150 deals in H2'24.
• The ASPAC region had the softest level of fintech investment, with just $4.2 billion across 363 deals in H1'25, compared to $7.3 billion across 444 deals in H2'24.
• At the sector level, digital assets, AI, and regtech were all trending well ahead of 2024's investment levels at mid-year. Digital assets had $8.3 billion in investment in H1'25—compared to $10.7 billion during all of 2024, while AI saw $7.2 billion in investment—compared to $8.9 billion in all of 2024.

"Given the geopolitical situation globally, much of the fintech investment globally we've seen so far in 2025 has been very strategic, rather than broad-brush speculative investments. Firms were more focused on cost cutting and on divesting non-core and underperforming assets than new deals. The increase in AI-focused fintech investment dovetails with that. Both investors and institutional users are very keen on the potential of generative AI and agentic AI—and startups that are to improve efficiencies and drive value through GenAI will command premium valuations and significant investment. Fintech-focused AI is only going to get hotter headed into the back half of 2025," he added.
Hashtag: #KPMGInternational #Fintech

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