by | Dec 23, 2021 | Rankings | 0 comments

In this modern digital age, the fintech industry has been expanding and its services are high in demand as many companies and individuals require the convenience of accessing and managing their finances through online applications. In this issue, Top 10 of Asia shares its list, in random order,  of the top 10 Singaporean fintech startups that have flourished in Singapore and successfully gained recognition through their products and services introduced to Singaporeans and also customers abroad. 


Aspire is founded by Andrea Baronchelli in 2018 and the company is one of the leading SME NeoBank in SouthEast Asia. Known as the trade name for Aspire Financial Technologies Pte Ltd, it is a fully owned subsidiary of Aspire Financial Technologies Holdings Inc, a Delaware (US) Corporation. Aspire provides SMEs with business accounts that contain fast and simple access to instant credit limit that solve daily capital needs and has over 1,000 clients worldwide. Aspire is serving a new generation of digital savvy businesses in Thailand, Vietnam, Indonesia and Singapore. Aspire’s flagship product, AspireAccount enables SMEs to use the credit limit for daily expenses plus virtual B2B payment and other tools to help SMEs manage their cash flow.


Founded by Val Yap, PolicyPal is a digital financial planner that provides its clients with their preferred insurance policies. Clients are able to compare insurance coverages from all PolicyPal providers and also enjoy exclusive rebates on insurance premiums plus also manage all portfolio in a single platform. PolicyPal provides a wide range of insurance products such as endowment or savings insurance, whole life insurance, critical illness insurance, travel insurance and health insurance.

Validus Capital

Founded by Ajit Raikar in 2015, Validus Capital is the one of the largest online lending marketplaces in Singapore that focuses on SME lending via funds from high-net-worth individual investors and institutions. These include family offices and hedge funds. Validus has aggregated over 15,000 loans to growing SMEs in ASEAN. Validus is an award-winning fintech company that uses data analytics and artificial intelligence to drive growth financing to SMEs in the region. The company is also present in Indonesia and Vietnam.


CredoLab was established by Peter Barcak in 2016. The company is backed by Fintonia Group, FORUM, and Walden International. It develops bank-grade digital scorecards for banks, consumer finance companies, auto lenders, online and mobile lenders, insurance companies and retailers from the best alternative data source – the smartphone device metadata. CredoLab has provided loans for over 10 million applicants and it has more than 63 lending partners. Its AI-based algorithm consists of over 18 million features from opt-in smartphone metadata and the ability to search for the most predictive behavioural patterns before converting them into credit scores.


Founded by Caecilia Chu in 2018, YouTrip is a regional financial technology startup that creates the best mobile financial services for travellers by simplifying overseas spending and creating a fuss-free travel experience. Its mission is to assist people across Southeast Asia in managing their money in an easier but smarter way. YouTrip is also the first Singapore-based firm to secure a Principal License from Mastercard and it is now a direct issuer of the YouTrip Prepaid Mastercard in Singapore. Besides, it also worked with Kasikornbank, Thailand’s leading consumer bank, to launch a partnership in Thailand. The company has over 500,000 mobile application downloads and processed over 10 million transactions.


Established by Ned Phillips, Bambu is one of the global leaders in digital wealth technology and also a global robo-advisor technology provider. The company utilises application programming interface and Software as a service (SaaS) platforms to deliver the best services to users. Its services include the “White-Label Robo”, a platform for all financial institutions to offer robo-advisory to clients and the “Intelligent Advisor”, a proprietary algorithm ranking tool for relationship managers to improve customers’ experience. Leading financial institutions worldwide have adopted Bambu’s technology that enables wealth management to be accessible digitally with convenience.


FundedHere was established by Daniel Lin and it is Singapore’s first Monetary Authority of Singapore (MAS-licensed equity) and debt crowdfunding platform that aspires to create a robust start-up ecosystem by connecting the most promising businesses to strategic investors. FundedHere organises 30-day campaigns for start-ups in order to provide accredited, professional, and institutional investors with diversification opportunities. To date, it has raised millions and has held around 29 campaigns.

Spark Systems

Founded by Wong Joo Seng, Ye Ting Song and Jason Wang, Spark Systems provides trading platforms and expert solutions for clients to meet the foreign exchange pricing and platform requirements. The company is founded on the principles of precise trading, market transparency and growth. It provides cutting-edge technology for high-speed trading and reduced trading costs.


Stashaway was founded by Michele Ferrario, Freddy Lim and Nino Ulsamer in 2016.  It is a digital wealth management platform for both retail and accredited investors. Stashaway’s technology delivers automated, personalised portfolio management for each client’s individual portfolios. Its risk-management investment strategy, ERAA® (Economic Regime-based Asset Allocation) is designed to maximise clients’ long-term returns while keeping each individual customer’s specific risk exposure constant through changing economic cycles. It has a Capital Market Services License for Retail Fund Management from the Monetary Authority of Singapore, and a Capital Market Services License for Retail Fund Management from Securities Commission Malaysia.


Established by Akshay Garg, Alie Tan and Umang Rustagi, FinAccel is a financial technology company that creates meaningful products in retail credit for Southeast Asia. It has two famous products namely, Kredivo, an all-digital instant credit card for ecommerce purchases and Lime, a personal financial management application. Lime is a personal financial management application that shows clients their budgets and expenditures thus enabling them to achieve their financial management goals.z