ASEAN fintech funding hits nine-year low as larger deals dominate

Singapore captures 87% of total, led by late-stage firms

ASEAN’s fintech sector posted its weakest investment period since 2016, with total funding falling 36% year-on-year to $835m in 9M 2025, according to the FinTech in ASEAN 2025 report by UOB, PwC Singapore, and the Singapore FinTech Association. 

Deal volume declined 60% to 53 deals amidst tighter capital allocation and market volatility.

However, average deal size increased by 42% to $21.4m, reflecting investor preference for scale and profitability, UOB said.

Late-stage firms attracted 67% of the total funding, up 24 percentage points (ppt) from a year earlier, driven by three mega transactions that combined to $450m.

Singapore accounted for 87% of regional funding, or $725m, reaffirming its role as ASEAN’s primary FinTech hub. The city-state hosted over half of all deals, led by blockchain and investment technology companies. 

Indonesia and the Philippines each captured 4%, while Malaysia, Thailand, and Vietnam together contributed less than 10%.

The report noted that investors are shifting focus from early-stage expansion to proven revenue and scalability, underscoring a more disciplined funding cycle within the region’s maturing FinTech landscape.