the approach of Singapore's regulators and government as one of the advantages of operating in the city-state.
And 2019 has demonstrated the tangible benefits of these efforts. Singapore was home to around 50 fintechs in 2015, but that figure stands at 600 today, with 1,000 new fintech jobs created in the city-state per year, Ravi Menon, MAS' managing director, told Bloomberg. In the first nine months of this year, fintechs in the city-state raised $735 million — a 69% spike from the $435 million they raised during the same period last year, Accenture. Amid this success, MAS will likely reset its funding initiatives for fintechs in 2020, when the program that started in 2015 expires.
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