Top 30 Fintech Startups in Singapore

The financial service industry now continues to attract tech companies that transform how people and businesses save, spend, borrow and invest and this is also attracting funding that can be helped in the growth of the companies. As more and more companies pour into the fintech space, it can be tough to sift through them and identify the major players. The explosion of fintech startups is quite surprising. Most financial institutions such as banks have made tech-driven changes. The market has been witnessing a great shift from digital loans and mobile stock services to eCommerce payment platforms and digital modes of currency exchanges that are rooted in digital financial access.

Fintech is not only about finances now but it also involves several industries and sectors such as education, fundraising, investment management, retail banking, and nonprofit services. It also includes the developments and progress in the crypto market. Fintech has the potential to completely revolutionize the financial services industry, in many countries and markets. It is seen as a game-changer in markets like Singapore.

Although Fintech moves at a snail’s pace, it is gaining popularity in Singapore and many other countries. Fintech companies are also attracting a lot of investor interest and capital. In this article, the top 30 Fintech companies based in Singapore will be covered.

  1. Celer Network

Celer Network is a leading layer-2 blockchain scaling platform that enables fast, secure and private off-chain transactions for crypto payments and smart contract executions. It allows everyone to easily build and use highly scalable, interactive, and low-cost blockchain applications. Celer Network brings Internet Scale to Every Blockchain. Based out of Singapore, Central Region, Singapore.

2. Volopay

Volopay is a Fin-tech startup that aims at making expense reports digital, fast, inclusive, and safe. It is the first AI-based real-time expense management software – a business management solution to streamline expense workflows while giving real-time visibility and control over business spending. We are replacing spreadsheets, paper checks, and ‘reports’ with a 10-second expense creation flow, the easiest imaginable approval process, automatic bookkeeping sync, and the fastest reimbursement pay-outs direct to your bank. You only have to snap the receipts and let the system work its magic. You’ll have ample extra time to focus on the job you love rather than being buried in paperwork. Our real-time AI software provides you with seamless options. From setting budgets limits and customizable approval flows to third-party integrations into your accounting software and other productivity tools.

3. Pundi X

Pundi X is a leading developer of blockchain-powered devices which include the XPOS, the world’s first point-of-sale solution that enables merchants and consumers to conduct in-store transactions instantly on the blockchain, and the world’s first blockchain phone called BOB powered by Function X which allows you to own and control your data without any centralized service provider. The XPOS solution has been shipped to over 25 markets including Argentina, Australia, Colombia, Korea, Singapore, Spain, Taiwan and the USA. 100,000 XPOS devices are being targeted to roll out globally by 2021. The company is headquartered in Singapore.

Its international presence extends to offices in Jakarta, São Paulo, Seoul, Shenzhen, Taipei and Tokyo. Listed as one of the top 50 emerging innovative fintech startups in 2018 by KPMG and H2 ventures and highlighted as a cool vendor in blockchain business in a recent Gartner Report in May 2019, Pundi X is also a member of Singapore Fintech Association, Fintech Association of Hong Kong, ACCESS, Swiss Finance and Fintech Association, and a founding member of Asosiasi Blockchain Indonesia.

4. Fincy

Fincy is a mobile application facilitating seamless currency exchanges and digital transactions. Born in 2019, the platform empowers users to realise rapid transactions like never before. Utilising Blockchain & Distributed Ledgar Technology (DLT), our secure financial infrastructure, contactless payments, and cost-effective exchange mean we’re the first of our kind. Flexible currency conversions between Fiat/Crypto, peer-to-peer exchanges, and multi-currency wallets – all within a few taps, inside one single super application. We’re paving the way for an affordable, swifter, and smarter future – one that’s powered by Fincy. Headquartered in Singapore, Fincy employs over 500 people across Asia and partners with thousands of merchants.

5. Persistence

Persistence One’s mission is to facilitate seamless exchange of value around the world to increase the speed and efficiency of cross-border trade and financing to close the $1.5 Trillion financing gap. Persistence One provides a platform to power Debt Marketplaces that match entities with surplus capital (lenders) to entities that require capital (borrowers). To achieve this, Persistence One leverages a few key features of the Blockchain / Cryptocurrency ecosystem: ♦️ movement of capital – in a trustless, borderless, instant and round-the-clock manner ♦️ Asset tokenization – tokenizing ‘Real-world’ Assets such as invoices, letters of credit, bills of lading (representing goods on a ship) using Non-Fungible Tokens (NFTs). ♦️ Decentralised Exchange – to facilitate easy trading and exchange of ‘Real-world’ assets against crypto assets (Stablecoins) ♦️ Debt marketplaces – allowing for use of crypto assets and Real-world assets as collateral to borrow/lend against Once a real-world asset has been tokenized into an NFT, it is free to be traded or used as collateral to finance business needs in a quick, easy and global manner. The need for a solution like Persistence One has never been clearer. A sizable and increasing amount of institutional capital and emerging Stablecoins are looking to generate yield. There is an ever-increasing need for MSMEs traders and businesses to access financing. Persistence One matches the two.

6. Xfers

Founded in 2015, Xfers aims to accelerate financial access within Southeast Asia by enabling businesses to accept payments and send money. Xfers boasts a range of last-mile financial rails including the Xfers Send, Xfers Accept, Xfers Wallet, and StraitsX. In Singapore, Xfers is a Major Payment Institution licensed by the Monetary Authority of Singapore for e-money issuance. In Indonesia, Xfers connects businesses to a range of payment methods that include bank transfers, e-wallet, and offline channels such as agent banking networks and convenience stores.


Founded in 2017, SILOT is a financial technology company established in Singapore/Beijing. It started with B2B business connecting banking infrastructure and financial products in the early stage, and then directly empowered SMEs and social e-commerce sellers after transformation. In 2019, Silot was selected by KPMG as the world’s top 100 financial technology company. Silot started with technology, has two US and Singapore artificial intelligence patents, and has the ability to pay as a multi-national licensed service provider to meet compliance and regulatory requirements.

8. BTO (BetterTradeOff)

BetterTradeOff is a Singapore-headquartered FinTech that’s revolutionising financial advice with an online solution that helps simplify and demystify financial planning. Making it possible for everyone, regardless of financial acumen, to make better financial decisions. Interactive and visual, the platform makes it easy for users to see and understand the impact of different decisions, while simulating a wide range of financial situations, such as purchasing a new home or planning for retirement.

The solution has been deployed in Singapore, Hong Kong, the Philippines, the UAE, and Switzerland and is utilized across three distinct business lines- a white-label and API based enterprise solution for financial institutions; a SaaS solution for Financial Advisers; and a free, do-it-yourself, financial planning platform for consumers. BetterTradeOff was selected as the Malaysia Champion in Zurich’s global Innovation Championships 2020. In 2018, BTO won the Global FinTech Hackcelerator organized by the Monetary Authority of Singapore (MAS); and the ‘DIAmond Award – Most Innovative Start-up’, at the most prestigious InsurTech event in the world, the DIA Conference in Amsterdam.

9. Spenmo

Spenmo is a spend management platform that automates expense reports and simplifies spending. Spenmo is a platform to help businesses manage spending by tracking company cards, automating invoice payments, and digital ledgers across transactions. Spenmo originated as an expense management platform before realizing that expenses “are just a tiny sliver” of a company’s payables, founder and CEO Mohandass Kalaichelvan told TechCrunch. Financial teams also need to manage vendor payments, supplier payments, payroll and reconcile bank accounts, often in different countries, resulting in an overwhelming amount of work. Spenmo was created to centralize SMBs’ accounts payable workflows. The Singapore-based company announced today it has raised a $34 million Series A led by Insight Partners, the New York-based investment firm known for its ScaleUp Program.

10. Canopy

Canopy is a Singapore based fintech that offers account aggregation, portfolio analytics, and client reporting solutions to financial institutions, wealth management professionals, and high net-worth individuals. We are proud to have Credit Suisse as a client and investor. All our databases are encrypted with 256-bit keys (AES-256). Industry consensus is that it would take a supercomputer million years to crack the encryption via a brute force attack. We regularly engage professional ethical hackers to try, and break into our infrastructure and assess all security aspects.

11. MoneySmart Group

MoneySmart Group is South East Asia’s leading personal finance portal helping consumers compare loans, insurance, and credit cards. You have life goals to meet and want to get ahead. It could be about choosing the right credit card for your needs, selecting the right mortgage plan for your first home or managing a savings plan for a successful retirement. You have tons of decisions to make, but time, money and energy are limited resources. On top of that, there are so many banks out there trying to sell you their products. How then do you make sense of the flood and complexity of information without feeling like you’re getting screwed over?

At MoneySmart, we’ve made it our mission to simplify your personal finance decisions. As everyday consumers ourselves, we understand your expectations, hopes and concerns and we’ve built in Singapore and in Indonesia as the go-to, all-in-one portals for personal finance. We work together with you to help make your life goals happen. So whether you’re budgeting your first paycheck, crossing out something from the ultimate travel bucket list, saving for that dream wedding, becoming a new homeowner or planning for retirement, you can be assured of making a smart choice – all for free in one place.

12. Mimo

Mimo is a blockchain company that built a DeFi protocol that offers PAR, the first stable coin algorithmically pegged to the Euro through its multi-chain platform: the Parallel Protocol. The protocol allows to mint PAR tokens by locking assets such as wBTC, ETH, USDC… and earn yield through liquidity pools. As blockchain developers, programmers and enthusiasts, our team is constantly in the pursuit of innovation by addressing problems we see and hear from our community. Our team is diverse and have been working in the crypto industry for years. We are distributed across all continents and thrive at working together.

13. Igloo

Igloo is a full-stack insurtech startup founded in 2016. It leverages big data, real-time risk assessment and end-to-end automated claims management to create innovative B2B2C insurance solutions for platform partners and insurers. Igloo’s insurance solutions enable companies to eliminate their exposure to operational risk, create new revenue streams and optimise and enhance existing products.

14. AMTD PolicyPal

PolicyPal simplifies the daunting process of policy management into a single platform. You can also gain financial knowledge through gamification and earn in-app credits to offset your premiums. Supported by technology, plan and reach your financial goals with personalized portfolio comparison. PolicyPal is a digital management platform that provides personalized financial reviews and action plans. Based out of Singapore, Central Region, Singapore.

15. Kristal.AI

Kristal.AI is an award-winning digital private wealth platform, licensed and operational in Singapore, Hong Kong, India, and the Middle East. We unlock sophisticated investment opportunities for the underserved mass affluent investors and provide a genetic advisory algorithm that helps first-time investors pick the most suitable portfolios (branded as Kristals) according to their financial goals and risk profiles. Our diverse team comprises 130+ people, backed by a strong and supportive management team with past work experience in JP Morgan, Citibank, BNP Paribas, Yahoo, Cognizant, and IBM Security. We are also backed by a leading VC in India – Chiratae Ventures (formerly IDG Ventures).

16. Incomlend

Incomlend is a global invoice financing marketplace giving SMEs access to tech-enabled working capital solutions supported by industry-leading institutional investors. Founded in 2016, the Singapore-based fintech company is a trusted and reliable partner for its clients, financing over $500 million in trades over 50 countries worldwide. Incomlend is an online multi-currency invoice exchange platform connecting businesses and private funders. Based out of Singapore, Central Region, Singapore.

17. Tonik

Tonik is a transformative digital bank on a mission to revolutionize the way money works in Southeast Asia. We are addressing the US$140 billion retail deposit and US$100 billion unsecured retail lending opportunities in the Philippines. We believe the existing Filipino banking customers and the 70% of the Filipinos that remain unbanked deserve a better choice – a digital-only bank that is simple, not intimidating, helps them save, all at the click of a button. As the world leader in internet and social media usage, we believe Philippines is ripe for becoming a world leader in digital banking too. We plan to make it happen.

We provide retail financial products, including deposits, loans, savings accounts, payments, and cards on a highly secure digital banking platform. Innovation is woven into the DNA of our company. We put customers first. We challenge the status quo. We are relentless. We are passionate about improving people’s financial lives through the use of technology. Tonik is officially the Philippines’ first neobank to secure a digital bank license from the Bangko Sentral ng Pilipinas (BSP). Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC).

18. Jenfi

Founded by Jeffrey Liu and Justin Louie, Jenfi is an alternative revenue-based financing company for digital-native businesses and startups for Southeast Asia. Branded as Growth Capital as a Service (GCaaS), the asset class offers non-dilutive capital of up to US$500,000 for businesses to scale through marketing, inventory, and growth campaigns. Jenfi’s proprietary risk assessment engine is able to determine the creditworthiness of a business and also how efficient they are with their growth spending.

Based on the assessment, Jenfi provides a more flexible and non-dilutive financing option for businesses. To date, Jenfi has backed over 100 businesses including B2B and SaaS businesses such as Tier One Entertainment, Pay With Split, and Homebase. Jenfi expects to deploy US$15 million in non-dilutive capital by July 2022. Prior to Jenfi, Jeffrey and Justin successfully built and exited fitness subscription company GuavaPass.

19. Altonomy

Altonomy is a trading, advisory and asset management firm specializing in cryptocurrency and digital assets. It is the first-ever dedicated sell-side trading desk to provide institutional-grade liquidity solutions, OTC trading, advisory and asset management services under one roof. Altonomy was founded in 2018 and is headquartered in Singapore while having additional offices in New York City and Shenzhen.

20. CardUp

CardUp is on a mission to provide individuals and businesses with a better way to pay and get paid. Our payment platform simplifies the lives of business owners, bringing both payments and collections into one easy-to-use digital platform. These no-code solutions improve cash flow management, unlock rewards on existing cards and save time through automation, all with no software implementation or setup time. At our core, we allow any big expense – previously made by cash, cheque, or bank transfer – to be shifted onto a credit card. This includes expenses that traditionally have not accepted cards.

Examples include rent, insurance premiums, payroll, supplier invoices and more. In addition, we equip businesses with the tools needed to automate payment processing, helping them save time whilst staying in control of their finances. CardUp operates regionally across Singapore, Hong Kong and Malaysia, and is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution under the Payment Services Act.

21. Nium

Nium is a next-generation financial services platform  that enables companies around the world to unlock new revenue opportunities and improve cash flow economics. Nium is a leader in its geographical and payment service breadth, owning licenses in the world’s largest and fastest-growing economies. Our modular platform allows banks, payment providers, travel companies, and other businesses to collect and disburse funds in local currencies to over 100 countries, plus issue physical and virtual cards globally. Our proprietary set of APIs embeds financial services and can bring to life multiple B2B and B2C use cases in a matter of weeks. Nium is part of CB Insights Fintech 250, which highlights the most promising Fintech companies globally. Today, Nium serves over 130 million customers and enables platforms to provide access to financial services to over 3 billion people across the world.

22. KingSwap

KingSwap is the newest decentralized finance (Defi) liquidity pool platform that is a further and better evolution of UniSwap. In addition to offering off-ramp fiat currency converting solutions to allow users great convenience between the fiat and cryptocurrency worlds. Based out of Singapore, Central Region, Singapore. KingSwap’s high-yield liquidity platform offers extensive staking rewards, digital collectables, etc. KingSwap’s native $KING tokens are regulated under Singaporean law.

23. Thunes

Thunes is a B2B company that powers payments for the world’s fastest-growing businesses – from Gig Economy giants such as Uber and Deliveroo and Southeast Asia’s super app Grab, to global Fintech leaders such as PayPal and Remitly. With a single, simple connection, your business and customers can send payments to – and get paid in – every corner of the world. Instantly. We support 60+ currencies, enable payments to 110+ countries, and help you accept 285+ payment methods. Thunes is headquartered in Singapore with regional offices in London, Paris, Shanghai, New York, Dubai, and Nairobi.

24. Silent Eight

Silent Eight is a technology company leveraging AI to create custom compliance models for the world’s leading financial institutions. Our mission is to empower our clients in their fight to eliminate financial crime. Founded in Singapore and with global hubs in New York, London, and Warsaw, we are deployed in over 150 markets. For more information. Silent Eight helps financial institutions manage their compliance and risk obligations using artificial intelligence. Based out of Singapore, Central Region, Singapore.

25. Singlife

We built Singlife because we believe that the world needs a better kind of insurance company: using the smartest technologies to make insurance totally digital, with automated efficiencies to make it more convenient and affordable. We think we’ve done a great job with this so far, and now we are doing the same with helping you with managing your cash. We aim to deliver better returns and a mobile-first alternative to banking. And in 2020, we will add effortless investing to the mix. Singlife provides digital life insurance services. Based out of Singapore, Central Region, Singapore.


ADVANCE.AI is a leading AI and big data company in Asia, helping to solve digital transformation, fraud prevention and process automation for enterprise clients. Started in 2016 and headquartered in Singapore, ADVANCE.AI is a leader in Artificial Intelligence, risk management and digital lending solutions. It currently partners over 1,000 enterprise clients across Southeast Asia, South Asia and Mexico in sectors such as banking, financial services, fintech, payment, retail and e-commerce. ADVANCE.AI is part of Advance Intelligence Group, a Series-D AI-driven technology company headquartered in Singapore, with operations across South and Southeast Asia, Latin America and Greater China. Advance Intelligence Group is ranked No. 1 on LinkedIn’s 2021 Top Startups List in Singapore.

27. Aspire

Aspire is the all-in-one finance operating system for growing businesses. We help companies save time and money with borderless payments, corporate cards, expense management, and more. Our mission is to empower the next generation of entrepreneurs with the financial tools they need to realize their company’s full potential. Headquartered in Singapore, with offices in Indonesia and Vietnam, Aspire is backed by some of the world’s best VCs, including Y-Combinator, the #1 startup incubator in the world. Based out of Singapore, Central Region, Singapore.

28. Credolab

We believe loans improve lives. We also believe traditional banking processes leave a lot of people out of the process. That’s why credolab is changing the way the world looks at credit. Our pioneering technology calculates credit scores based on people’s mobile and web-behavioural data— so lenders can make decisions based on the way people live and work in the modern world. Making loans more accessible to more people benefits everyone. CredoLab develops bank-grade digital credit scorecards built on mobile device metadata. Based out of Singapore, Central Region, Singapore.

29. Hatcher+

Hatcher+ is a venture-as-a-service company that leverages deep learning, process automation, and global partnerships to enable scalable portfolios and index-style investor returns. Hatcher+ uses AI, process automation, and global partnerships to improve outcomes for investors. Hatcher+ is a venture-as-a-service company that leverages deep learning, process automation, and global partnerships to enable scalable portfolios and index-style investor returns. Hatcher+ is a data-driven venture investment platform. Based out of Singapore, Central Region, Singapore.

30. Bambu

Bambu is a Fintech company. We are B2B, which means we only develop tech for financial institutions. Our platform helps users save and invest for their future, so we like to think we’re helping people in some small way. The plan for us is to make the platform intelligent piece-by-piece, to help people manage their spending and money every day. Bambu is headquartered in Singapore with a subsidiary in the United Kingdom, the USA and EMEA representatives. Founded in 2016, and large privately owned by the founders and employees, we have the financial backing of one of the world’s leading players in our industry in Franklin Templeton.

We have clients in every continent except Antarctica. Yeah, we’re still working on that. Oh, and we also launched Singapore’s first Robo-advisor platform back in 2016 with Crossbridge Connect. We’ve won a bunch of awards, for what it’s worth. We won the Best Early Stage Startup at Fintech Finals 2017 and the Best Show Award in FinovateAsia 2017 for our machine learning algorithms. We are also Alumni of the SuperCharger 2.0 Accelerator program and finalists at Jumpstart organised by Alibaba Entrepreneurs Fund.

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