Singapore leads Southeast Asia in tech funding for first half of 2024

SINGAPORE: Singapore has emerged as the dominant player in Southeast Asia’s tech funding landscape for the first half of 2024, capturing a substantial 68% of the total funds raised in the region.

Despite this strong showing, the country’s tech sector experienced a decline compared to the second half of 2023, where US$1.4 billion was raised. Trailing behind Singapore, other key cities in Southeast Asia also saw significant funding activities but on a much smaller scale. Jakarta attracted US$185 million, Bangkok garnered US$150 million, Taguig secured US$57.1 million, and Ho Chi Minh City raised US$36.3 million.

Among the major beneficiaries of this funding surge in Singapore were ANEXT Bank, Capillary, and DCS Card Centre, formerly known as Diners Club Singapore.

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