The rebound was driven by 167 deals including 13 mega rounds, which accounted for USD 2 billion of the total funding, according to the report by United Overseas Bank (UOBH.SI), PwC Singapore and the Singapore FinTech Association (SFA). Mega rounds are those which raise UDF 100 million or more.
Late-stage fintech firms, or those in their series C funding and beyond, garnered most interest, with involvement in 10 of 13 mega rounds this year, as investors took a more risk-adverse approach during the pandemic by backing more established firms, the report said.
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