Southeast Asia Fintech players have raised a total of $776 million in the first half of 2025, up 31 percent from $593 million in the second half of 2024, but down 22 percent as compared to $1 billion raised in the first half of 2024, Tracxn said Monday.

The data intelligence platform said in a statement that the region’s FinTech ecosystem recorded notable shifts in investment dynamics, with a strong rebound in late-stage funding leading the overall growth.

While early and seed-stage funding dipped significantly compared to both the second half of 2024 and the first half of 2024, large rounds and late-stage capital inflows helped offset the decline.

The growth was primarily driven by larger deals and an uptick in late-stage activity.

Seed stage saw a total funding of $50.7 million in the first half of 2025, a drop of 50 percent compared to $102 million raised in the second half of 2024, and a drop of 52 percent compared to $106 million raised in the first half of 2024.

Early Stage saw a total funding of $167 million in the first half of 2025, a drop of 27 percent compared to $229 million raised in the second half of 2024, and a drop of 65 percent compared to $482 million raised in the first half of 2024.

In contrast, late stage witnessed a total funding of $558 million in the first half of 2025, an increase of 113 percent compared to $262 million raised in the second half of 2024, and an increase of 22 percent compared to $458 million raised in the first half of 2024.

FinTech continued to be a focus area across Southeast Asia, with funding activity primarily concentrated in this sector.

Notably, this sector witnessed a mix of late-stage rounds and acquisitions, highlighting its maturity relative to other segments.

In the first half of 2025, Southeast Asia FinTech saw three $100 million+ rounds, when compared to one such round in the second half of 2024 and two in the first half of 2024.

Companies like Thunes, Airwallex and Bolttech have managed to raise funds above $100 million in this quarter.

Thunes has raised a total of $150 million in a Series D round; Airwallex has raised a total of $150 million in a Series F round; Bolttech has raised a total of $147 million in a Series C round.

Antalpha was the only company that went public in the first half of 2025.

Only one unicorn was created in the first half of 2025, the same number as in the first half of 2024 and no unicorn emerged in the second half of 2024.

FinTech companies in Southeast Asia saw nine acquisitions in the first half of 2025, which is a 18 percent decrease as compared to 11 acquisitions in the second half of 2024 and a decrease of 43 percent compared to 16 acquisitions in the first half of 2024.

ASCENT was acquired by KFin Technologies at a price of $34.7 million. This became the highest valued acquisition in the first half of 2025 followed by the acquisition of Coinseeker by Titanlab at a price of $30 million.

Singapore based tech firms accounted for 88 percent of all funding seen by tech companies across the Southeast Asia. This was followed by Taguig at a distant second.

East Ventures, Y Combinator and 500 Global were the overall top investors in the Southeast Asia FinTech ecosystem.

Iterative, Selini Capital and 500 Global were the top seed stage investors in Southeast Asia FinTech ecosystem for the first half of 2025.

Back in Black Capital, Citi Ventures and HSG were the top early stage investors in the SEA FinTech ecosystem for the first half of 2025.

DST Global Partners, Unbound and Vitruvian Partners were the top late stage investors in the Southeast Asia FinTech ecosystem for the first half of 2025.

Late stage venture capital investments saw United States based DST Global Partners and United Kingdom based Unbound add one company each to their portfolios.

The Southeast Asia FinTech ecosystem witnessed a shift in funding dynamics in the first half of 2025, with a steep rise in late-stage capital offsetting the sharp declines in seed and early-stage investments.

While unicorn creation remained stagnant and acquisition activity slowed, the presence of three $100 million+ rounds and dominance of Singapore in overall funding signals sustained interest in mature FinTech players.

Tracxn : SEA tech holds ground at $2B in 1H as investors bet big on late-stage growth