SINGAPORE, Nov. 18, 2017 /PRNewswire
Over 1,000 attendees, comprising investors and FinTech start-ups, turned up at the Singapore FinTech Festival's Investor Summit or "Deal Day" today, and up to US$2 billion of capital was made available for the start-ups. The Investor Summit was the finale of the four-month long matchmaking programme to provide opportunities for FinTech start-ups to access funding from local and global investors. More than 1,000 FinTech start-ups and 400 investors indicated interest to participate in the process and 525 connections were made among interested parties.
The Investor Summit, powered by Ernst & Young (EY), is organised by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore, as part of the 2017 Singapore FinTech Festival. The Investor Summit wraps up the week-long Singapore FinTech Festival which saw more than 30,000 participants from over 100 countries.
Mr Sopnendu Mohanty, Chief FinTech Officer of MAS, said, "The fundraising process for start-ups can be a long and arduous process. On the other side of the table, the challenge for investors is to generate quality prospects aligned to their investment objectives. "Deal Day" aims to provide a platform for FinTech start-ups to connect to investors. We want to enhance access to funding for start-ups and improve the quality and quantity of FinTech investment deals in Singapore. I am delighted that we have managed to facilitate a considerable number of matches, and kickstarted promising conversations. I am hopeful that concrete deals will emerge from these connections."
The matchmaking programme provided a perspective on the funding and FinTech landscape in Singapore and ASEAN.
Source: The Monetary Authority of Singapore (MAS)
Illustration Photo: USD Banknotes (CC0 Creative Commons from Pixabay.com)