Southeast Asia Region Displays High Potential for Fintech Innovation: Golden Gate Ventures

Golden Gate Ventures, a Southeast Asia-focused venture capital (VC) firm based in Singapore says that the region is set to produce an abundance of fintech innovations within the next decade.

Why it Matters?

A report issued by Golden Gate Ventures says that as Southeast Asia has a significant unbanked population of 290 million people, there is a high potential for fintech players in the region. With digital wallet penetration in the Southeast Asian countries being much less than in China and the UK, there is ample space for growth in these countries in the sector. Neobanks, Buy Now Pay Later (BNPL) and other financing products are also deemed as having a growth potential in the region. The report further states that Southeast Asia, propelled by Indonesia an...