Fintech, e-commerce sectors drove deal making in all major SE Asian markets in 2020

The year 2020 showed how indispensable digitalisation can be in tackling COVID-19 disruptions. The biggest beneficiaries of this lifestyle shift were the fintech, e-commerce, health tech, and edtech startups in Southeast Asia.

And investors took note.

The fintech sector led dealmaking in Southeast Asia in 2020, as reported extensively in DealStreetAsia’s SE Asia Deal Review: Q4 2020 report. Fintech startups inked 125 deals with a total value of $1.258 billion, excluding the estimated $300-350 million investment from Facebook and PayPal into ride-hailing giant Gojek’s e-payment arm GoPay.

Within the fintech space, e-payment startups raised $634 million in funding, followed by P2P firms ($142 million), digital banks ($116 million), insurtech ($92 million), and cryptocurrency-focused startups ($58 million).

Here’s a breakdown of the most popular sectors by deal count and deal value across major markets:

Singapore

Fintechs in Singapore raised $426 million from 63 deals, or about half of all fintech deals in the region in 2020. Health tech was the next most popular sector in the country.

Singapore fundraising 2020Source: DealStreetAsia Research & Analytics

Indonesia

E-commerce was the most sought-after sector based on deal count in Indonesia. Within e-commerce, e-procurement and social commerce saw increased momentum, becoming the second and third most popular sub-verticals after e-marketplace.

Indonesia-deals-2020Source: DealStreetAsia Research & Analytics

Malaysia

Much like its Southeast Asian peers, Malaysia saw fintech and e-commerce startups record the highest deal volume. E-commerce was also the top sector by deal value.

Malaysia-deals-2020Source: DealStreetAsia Research & Analytics

Vietnam

E-commerce was the top vertical by deal count in 2020, followed by HR tech. Vietnam was the second most active market for HR tech in the region after Singapore.

Source: DealStreetAsia Research & Analytics

Thailand

COVID-19 accelerated the shift towards online purchases among users. As a result, e-commerce and related businesses were among those that benefitted from the digital wave in 2020.

Thailand deals 2020

Philippines

Nine fintech and e-commerce startups secured funding in 2020, raising roughly half of the total amount of funds raised in the Philippines during the year.

Philippines

For more data on Southeast Asia’s fundraisings, please refer to our Research & Analytics report.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.