This story was delivered to BI Intelligence " Fintech Briefing " subscribers. To learn more and subscribe, please click here . Fintech funding grew 197% year-over-year (YoY) in the region to reach $41.5 million in Q2 2016, according to Tech in Asia. And while that pales in comparison to the $5.75 billion raised in the rest of Asia, one country is raking in considerable capital — Singapore alone accounted for over three quarters of the region’s funding, half of the deals, and three of the top five deals by value. Here is a breakdown of the biggest deals in the second quarter: Quoine (Singapore): The Bitcoin services company received a $20 million Series A round. Quoine offers a number of services including margin trading, interest-earning Bitcoin accounts, and Bitcoin-to-fiat exchanges. Tagit (Singapore): Tagit is a platform provider that enables banks to build and scale digital applications. The company received $9 million in a stage that was not disclosed. Jirnexu (Malaysia): The firm received a $3 million Series A round. It provides mobile-first customer acquisition and lifecycle management solutions to financial services providers. Canopy (Singapore): Canopy is an account aggregator that helps customers visualize their portfolios across assets. The company received $2.4 million in an undisclosed round. Moka (Indonesia): The firm received $1.9 million in a Series A round. It provides point-of-sale solutions for small- and medium-sized businesses. It’s no surprise that Singapore was the top Southeast Asian country for fintech funding in the second quarter. In addition to being the wealthiest country per capita in the region, Singapore is taking steps to become a regional and global fintech leader. For example, the Monetary Authority of Singapore is lowering the compliance burden for fintech startups, and it’s forming fintech bridges with other countries to encourage exports and imports of these […]
