IDC Financial Insights today released the 2020 update of its FinTech Fast 101 research which details a list of fast-growing FinTechs in Asia/Pacific excluding Japan (APEJ) from 11 key markets.
IDC’s FinTech Fast 101 research refers to fast-growing fintech players based on extensive on-ground analysis of fintech players from China, India, Indonesia, Singapore, Hong Kong, Thailand, Malaysia, the Philippines, Vietnam, South Korea, and Australia.
5 Fast Growing FinTechs in Singapore
2C2P
2C2P is a payments solution provider that mainly helps e-commerce merchants accept payments online. 2C2P was founded in 2003 by Aung Kyaw Moe, an entrepreneur from Myanmar who is based in Singapore and Thailand. 2C2P positions itself as a payments provider tailored for the local needs of Asians.
FUNDING SOCIETIES
Funding Societies has a presence across various Southeast Asian markets aims to help SME owners start or grow their business by providing a platform that could connect them to investors—via a crowdfunding, or P2P model.
GRABPAY
GrabPay is among the most popular e-wallet used in Singapore and Malaysia. It is part of the larger umbrella of Grab Financial.
LENDDOEFL
LenddoEFL does non-traditional data for credit scoring and online verification. The startup was established in 2012 as an alternative option to obtain loans, lending money to people mostly from the emerging middle class. LenddoEFL offer leading alternative credit scoring, identity verification and insights products to financial institutions in more than 20 emerging markets. To date, LenddoEFL has allowed more than 50 financial institutions to run over 12 million assessments for people with limited information, allowing them to disburse over $2.5 billion USD in credit.
NIUM
Nium (InstaReM) is a fintech startup offering cross-border money transfers with close to live exchange rates. The company is licensed in the EU, Australia, Canada, Hong Kong, Malaysia, India & Singapore. The company also offers a configurable, multi-featured platform MassPay that helps corporate and SME users to manage and control their high-volume remittances to multiple beneficiaries in multiple currencies via a seamless process
Note: The list is arranged alphabetically. Source: IDC, 2020
