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Singapore
Startups ranked by AI-estimated valuation

Singapore’s 50 most valuable startups

Edition 0·Published 19 Oct 2026·Next scheduled update 2 Nov 2026

A quarterly ranking of non-listed Singapore startups that have already raised funds, established by artificial intelligence from public information. The market sets the value; AI models estimate it.

Quarterly Claude · multi-AI consensus from 1 Dec 2026· Method· Order never changed by a human
Listed benchmarks Sea · Gaming, e-commerce, fintech (Garena, Shopee, Monee) · NYSE · SEGrab · Ride-hailing, delivery, fintech · Nasdaq · GRABKarooooo · Connected-vehicle SaaS (Cartrack) · Nasdaq · KAROiFAST · Wealth-management platform and digital bank · SGX · AIYRyde · Ride-hailing and delivery app · NYSE American · RYDEMoneyHero · Personal-finance comparison platform · Nasdaq · MNY Not ranked: no intention is possible on a listed company.
The market at a glance
50companies ranked
28companies on the radar
USD 4.6bn (S$5.9bn)raised in 2025
472 dealsrounds in 2025
Singapore startups raised USD 4.6bn across 472 deals in 2025, down 34% in value and 35% in volume from 2024 and far below the 2022 peak of USD 10.6bn, but still 72.5% of ASEAN-6 deal value (EY-Parthenon with Enterprise Singapore; Tracxn counts USD 4.7bn, about 91% of SEA tech funding). Fintech grew 34% to USD 1.7bn, AI took 31% of deal value, and the median deal rose to USD 4.5M as late-stage rounds gained share. In H1 2026, Singapore-headquartered companies raised USD 6.7bn across 145 deals (92% of SEA), but DayOne's USD 4.5bn data-centre financing alone made up about 62% of the regional total (Kickstart Ventures). Sources: Enterprise Singapore / EY-Parthenon, Singapore Venture Funding Landscape Report 2025 (FY2025), TNGlobal on EY-Parthenon report (FY2025, USD figures), e27 on Tracxn (FY2025). Intention counters will be shown above a threshold of amount and number of Backers.

National ranking · all sectors

Snapshot19 Oct 2026A snapshot taken on 19 Oct 2026
This ranking shows the startups as they stood on 19 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 2 Nov 2026.
Spotted a more recent round? Tell us →
First edition: no movements yet.
#CompanySub-sectorKnown fundingEstimated valuation (AI) · rangePool of InterestsInterest: a free, non-binding declaration on a company, or on a sector within an area, made during the free phase of a pool.

Pool: all the Interests declared on the same target. This column shows the number of Backers and the combined amount of their tickets, to validated members only.
Terms for Backers →
BackBacking a startup on Uback (pronounced “you back”) can be done in two ways:

Interest · free: a non-binding declaration that signals your demand for a company or a sector. You can move or withdraw it at any time, with up to 5 at once.

Intention · coming soon: a paid, confirmed declaration, still non-binding. Once its pool reaches critical mass, it is presented to a company by a partner desk.

Neither is an order nor a commitment to invest.
Terms for Backers →
1 OKXSingapore · founded 2017Seychelles
Legal seat in the Seychelles; management spread between Singapore, Hong Kong and Dubai, with a US base in San Jose. Counted in Singapore, as in the Crypto exchanges ranking.
Crypto › exchange raised
Strategic investment · USD 200M · Mar 2026 (Intercontinental Exchange), at USD 25bn
Last known equity round: Strategic investment · USD 200M · Mar 2026 (Intercontinental Exchange)
Published valuation: USD 25bn (Mar 2026)
Method
Be the first Back
2 Crypto.comSingapore · founded 2016
Founded in Hong Kong in 2016 (as Monaco); headquartered in Singapore.
Crypto › exchange & app raised
Strategic investment · USD 400M · Jul 2026 (Citadel Securities)
Last known equity round: Strategic investment · USD 400M · Jul 2026 (Citadel Securities)
Published valuation: USD 20bn (Jul 2026)
Method
Be the first Back
3 AirwallexSingapore · founded 2015
Founded in Melbourne in 2015; HQ moved to Singapore in 2023, with San Francisco as second global HQ. Cayman holding.
Fintech › cross-border payments raised
Series H · USD 320M · Jun 2026 (Addition)
Last known equity round: Series H · USD 320M · Jun 2026 (Addition)
Published valuation: USD 11bn (Jun 2026)
Method
Be the first Back
4 KuCoinSingapore · founded 2017Seychelles
Legal seat in the Seychelles; headquartered in Singapore since 2018. Counted in Singapore, as in the Crypto exchanges ranking.
Crypto › exchange raised
Series B · USD 150M · May 2022 (Jump Crypto, Circle Ventures, IDG Capital, Matrix Partners), at USD 10bn
Last known equity round: Series B · USD 150M · May 2022 (Jump Crypto, Circle Ventures, IDG Capital, Matrix Partners)
Published valuation: USD 10bn (May 2022)
Method
Be the first Back
5 CarroSingapore · founded 2015
Reported in August 2025 to prepare a US IPO at over USD 3bn.
Marketplace › used cars raised
Series C · USD 360M · Jun 2021 (SoftBank Vision Fund; Temasek, Insignia Ventures, EDBI)
Last known equity round: Series C · USD 360M · Jun 2021 (SoftBank Vision Fund; Temasek, Insignia Ventures, EDBI)
Published valuation: USD 1bn (Jun 2021)
Method
Be the first Back
6 CarousellSingapore · founded 2012
Merged with 701Search (Mudah.my, 591) in 2019; OLX Group holds a stake.
Marketplace › classifieds & recommerce raised
Growth round · USD 100M · Sep 2021 (STIC Investments)
Last known equity round: Growth round · USD 100M · Sep 2021 (STIC Investments)
Published valuation: USD 1.1bn (Sep 2021)
Method
Be the first Back
7 Silicon BoxSingapore · founded 2021
Founded by Marvell co-founders Sehat Sutardja and Weili Dai with CEO BJ Han; production started in Singapore.
Deeptech › chiplet packaging USD 580M+ raised
Series B2 (incl. extension) · USD 250M · Jun 2026 (EDBI)
Last known equity round: Series B2 (incl. extension) · USD 250M · Jun 2026 (EDBI)Method Be the first Back
8 CodaSingapore · founded 2011
Operates Codashop, a top-up store for online games.
Fintech › digital content payments raised
Growth round · USD 690M · Apr 2022 (GIC; Smash Capital, Insight Partners)
Last known equity round: Growth round · USD 690M · Apr 2022 (GIC; Smash Capital, Insight Partners)
Published valuation: USD 2.5bn (Apr 2022)
Method
Be the first Back
9 ThunesSingapore · founded 2016
Network reaching about 130 countries and billions of mobile wallets.
Fintech › cross-border payments network raised
Series D · USD 150M · Apr 2025 (Apis Partners, Vitruvian Partners)
Last known equity round: Series D · USD 150M · Apr 2025 (Apis Partners, Vitruvian Partners)
Published valuation: USD 1bn (May 2025)
Method
Be the first Back
10 Ninja VanSingapore · founded 2014
Operates in six South-East Asian countries.
Logistics › last-mile delivery raised
Series E · USD 580M · Sep 2021 (Alibaba, Geopost (DPDgroup); B Capital, Monk's Hill Ventures, Zamrud)
Last known equity round: Series E · USD 578M · Sep 2021
Published valuation: USD 1.9bn (Sep 2021)
Method
Be the first Back
11 NiumSingapore · founded 2014
Founded in Singapore in 2014 as Instarem.
Fintech › cross-border payments infrastructure raised
Growth round · USD 50M · Jun 2024 (Brunei Investment Agency)
Last known equity round: Growth round · USD 50M · Jun 2024 (Brunei Investment Agency)
Published valuation: USD 1.4bn (Jun 2024)
Method
Be the first Back
12 Hummingbird BioscienceSingapore · founded 2015
Sites in Singapore and Houston; spun out Callio Therapeutics (Seattle) in 2025.
Biotech › antibody therapeutics raised
Series C · USD 120M · May 2021 (Novo Holdings; Frazier Healthcare, Octagon, EDBI, Amgen Ventures)
Last known equity round: Series C · USD 125M · May 2021 (Novo Holdings; Frazier Healthcare, Octagon, EDBI, Amgen Ventures)Method Be the first Back
13 BIT (formerly Matrixport)Singapore · founded 2019
Founded by Bitmain co-founder Jihan Wu as Matrixport; renamed BIT.
Crypto › digital-asset financial services raised
Series C · USD 100M · Aug 2021 (DST Global, C Ventures, K3 Ventures)
Last known equity round: Series C · USD 100M · Aug 2021 (DST Global, C Ventures, K3 Ventures)
Published valuation: USD 1bn (Aug 2021)
Method
Be the first Back
14 AspireSingapore · founded 2018
Serves more than 50,000 businesses in Asia (company claim, 2024).
Fintech › SME business accounts raised
Series C · USD 100M · Sep 2022 (Lightspeed, Sequoia Capital SEA; Tencent)
Last known equity round: Series C · USD 100M · Sep 2022 (Lightspeed, Sequoia Capital SEA; Tencent)Method Be the first Back
15 Next Gen Foods (TiNDLE)Singapore · founded 2020 Agrifood › plant-based meat USD 130M+ raised
Series A · USD 100M · Feb 2022 (Alpha JWC, Temasek)
Last known equity round: Series A · USD 100M · Feb 2022 (Alpha JWC, Temasek)Method Be the first Back
16 Advance Intelligence GroupSingapore · founded 2016
Parent of ADVANCE.AI (KYC, risk) and Atome (BNPL), active in about ten Asian markets.
Fintech › BNPL & risk AI raised
Series D extension · USD 80M · May 2023 (Warburg Pincus, Northstar Group)
Last known equity round: Series D extension · USD 80M · May 2023 (Warburg Pincus, Northstar Group)Method Be the first Back
17 SyfeSingapore · founded 2019 Fintech › robo-advisor & brokerage raised
Series C · USD 80M · Jun 2025
Last known equity round: Series C · USD 80M · Jun 2025Method Be the first Back
18 Doctor AnywhereSingapore · founded 2017
Operates in Singapore, Vietnam, Thailand, Malaysia, Indonesia and the Philippines.
Digital health › telemedicine and clinics about USD 180M raised
Series C1 (incl. extension) · USD 80M · Dec 2023 (Square Peg, Novo Holdings)
Last known equity round: Series C1 (incl. extension) · USD 79.6M · Dec 2023 (Square Peg, Novo Holdings)Method Be the first Back
19 NansenSingapore · founded 2019 Crypto › on-chain analytics raised
Series B · USD 75M · Dec 2021 (Accel; Andreessen Horowitz, Tiger Global, GIC)
Last known equity round: Series B · USD 75M · Dec 2021 (Accel; Andreessen Horowitz, Tiger Global, GIC)
Published valuation: USD 750M (Dec 2021)
Method
Be the first Back
20 Funding SocietiesSingapore · founded 2015
Operates as Modalku in Indonesia; active in Singapore, Indonesia, Malaysia, Thailand and Vietnam.
Fintech › SME lending raised
Strategic equity · USD 25M · Dec 2024 (Cool Japan Fund)
Last known equity round: Strategic equity · USD 25M · Dec 2024 (Cool Japan Fund)Method Be the first Back
21 EndowusSingapore · founded 2017
More than USD 10bn of client assets (Oct 2025).
Fintech › digital wealth management raised
Growth round · USD 70M · Oct 2025 (Illuminate Financial; Prosus, Citi Ventures)
Last known equity round: Growth round · USD 70M · Oct 2025 (Illuminate Financial; Prosus, Citi Ventures)Method Be the first Back
22 ShopBackSingapore · founded 2014 E-commerce › cashback & rewards raised
Series F · USD 200M · Dec 2021 (Asia Partners, 65 Equity Partners; Westpac)
Last known equity round: Series F · USD 200M · Dec 2021 (Asia Partners, 65 Equity Partners; Westpac)Method Be the first Back
23 99 GroupSingapore · founded 2014 Proptech › property portals raised
Series C (incl. extension) · USD 63M · Mar 2023 (Gaw Capital Partners; OCBC NISP Ventura)
Last known equity round: Series C (incl. extension) · USD 63M · Mar 2023 (Gaw Capital Partners; OCBC NISP Ventura)Method Be the first Back
24 Startale GroupSingapore · founded 2022 Crypto › blockchain infrastructure raised
Series A · USD 63M · Mar 2026 (SBI Group, Sony Innovation Fund)
Last known equity round: Series A · USD 63M · Mar 2026 (SBI Group, Sony Innovation Fund)Method Be the first Back
25 MultiplierSingapore · founded 2020 HR › employer of record & global payroll raised
Series B · USD 60M · Jun 2022 (Tiger Global, Sequoia Capital India/SEA)
Last known equity round: Series B · USD 60M · Jun 2022 (Tiger Global, Sequoia Capital India/SEA)Method Be the first Back
26 YouTripSingapore · founded 2018 Fintech › multi-currency wallet raised
Series B · USD 50M · Oct 2023 (Lightspeed)
Last known equity round: Series B · USD 50M · Oct 2023 (Lightspeed)Method Be the first Back
27 Love, BonitoSingapore · founded 2010 E-commerce › fashion brand raised
Series C · USD 50M · Jan 2022 (Primavera Capital)
Last known equity round: Series C · USD 50M · Jan 2022 (Primavera Capital)Method Be the first Back
28 GlintsSingapore · founded 2013 HR › recruitment marketplace raised
Series D · USD 50M · Feb 2022 (PayPal Ventures)
Last known equity round: Series D · USD 50M · Feb 2022 (PayPal Ventures)Method Be the first Back
29 AI RudderSingapore · founded 2019
Offices in Shanghai and Jakarta.
AI › voice agents USD 60M raised
Series B · USD 50M · Mar 2022 (Tiger Global, Coatue, Cathay Innovation; First Plus, VenturesLab, Sequoia Capital India, Huashan Capital)
Last known equity round: Series B · USD 50M · Mar 2022 (Tiger Global, Coatue, Cathay Innovation; First Plus, VenturesLab, Sequoia Capital India, Huashan Capital)Method Be the first Back
30 NuevocorSingapore · founded 2018
Preparing US clinical trials.
Biotech › gene therapy raised
Series B · USD 45M · May 2025 (Kurma Partners, Angelini Ventures; EDBI, ClavystBio, Boehringer Ingelheim Venture Fund, Highlight Capital)
Last known equity round: Series B · USD 45M · May 2025 (Kurma Partners, Angelini Ventures; EDBI, ClavystBio, Boehringer Ingelheim Venture Fund, Highlight Capital)Method Be the first Back
31 CoboSingapore · founded 2017 Crypto › custody & wallet infrastructure raised
Series B · USD 40M · Sep 2021 (DST Global Partners)
Last known equity round: Series B · USD 40M · Sep 2021 (DST Global Partners)Method Be the first Back
32 Silent EightSingapore · founded 2013
Founded by Polish entrepreneurs; HQ in Singapore with a large engineering team in Poland; customers include HSBC and Standard Chartered.
AI › financial-crime compliance USD 55M raised
Series B · USD 40M · Mar 2022 (TYH Ventures; HSBC Ventures, OTB Ventures, Wavemaker Partners, SC Ventures)
Last known equity round: Series B · USD 40M · Mar 2022 (TYH Ventures; HSBC Ventures, OTB Ventures, Wavemaker Partners, SC Ventures)Method Be the first Back
33 Sapient IntelligenceSingapore · founded 2024
Known for the open-source Hierarchical Reasoning Model (HRM) released in 2025.
AI › foundation models USD 22M raised
Seed · USD 22M · Jan 2025
Last known equity round: Seed · USD 22M · Jan 2025
Published valuation: USD 200M (Jan 2025)
Method
Be the first Back
34 IglooSingapore · founded 2016 Insurtech › embedded insurance raised
Pre-Series C · USD 36M · Dec 2023 (Eurazeo; Openspace, La Maison)
Last known equity round: Pre-Series C · USD 36M · Dec 2023 (Eurazeo; Openspace, La Maison)Method Be the first Back
35 TazapaySingapore · founded 2020
Licensed in Singapore, Canada, Australia and the US; serves over 1,000 enterprises (company claim).
Fintech › cross-border payments infrastructure raised
Series B (incl. extension) · USD 36M · Mar 2026 (Circle Ventures; CMT Digital, Coinbase Ventures, Peak XV Partners, Ripple)
Last known equity round: Series B (incl. extension) · USD 36M · Mar 2026 (Circle Ventures; CMT Digital, Coinbase Ventures, Peak XV Partners, Ripple)Method Be the first Back
36 HomageSingapore · founded 2016
Operates in Singapore, Malaysia and Australia.
Digital health › home care USD 45M+ raised
Series C · USD 30M · Sep 2021 (Sheares Healthcare Group; DG Daiwa Ventures, Sagana Capital, East Ventures, HealthXCapital)
Last known equity round: Series C · USD 30M · Sep 2021 (Sheares Healthcare Group; DG Daiwa Ventures, Sagana Capital, East Ventures, HealthXCapital)Method Be the first Back
37 VolopaySingapore · founded 2019 Fintech › spend management raised
Series A · USD 29M · Mar 2022
Last known equity round: Series A · USD 29M · Mar 2022Method Be the first Back
38 SpeedocSingapore · founded 2017 Digital health › hospital at home raised
Pre-Series B · USD 28M · Nov 2022 (Bertelsmann Investments, Shinhan Venture Investment, Mars Growth; Vertex Ventures SEA & India)
Last known equity round: Pre-Series B · USD 28M · Nov 2022 (Bertelsmann Investments, Shinhan Venture Investment, Mars Growth; Vertex Ventures SEA & India)Method Be the first Back
39 Engine BiosciencesSingapore · founded 2017
Operations in Singapore with a Silicon Valley office.
Biotech › AI drug discovery USD 86M raised
Series A extension · USD 27M · Oct 2023 (Polaris Partners)
Last known equity round: Series A extension · USD 27M · Oct 2023 (Polaris Partners)Method Be the first Back
40 SleekSingapore · founded 2017
Founded by French entrepreneur Julien Labruyère.
Software › SME back-office raised
Series B · USD 23M · Jun 2025 (Ellerston Capital; Money Forward)
Last known equity round: Series B · USD 23M · Jun 2025 (Ellerston Capital; Money Forward)Method Be the first Back
41 Green Li-ionSingapore · founded 2020
Founded at Entrepreneur First Singapore by Leon Farrant and Reza Katal; first plant in Oklahoma.
Climate › battery recycling USD 15M+ raised
Pre-Series B · USD 20M · Mar 2023 (TRIREC; Banpu NEXT, Equinor Ventures)
Last known equity round: Pre-Series B · USD 20.5M · Mar 2023 (TRIREC; Banpu NEXT, Equinor Ventures)Method Be the first Back
42 OneByZeroSingapore · founded 2023
Reports automating over 90% of client customer interactions.
AI › enterprise agents raised
Series A · USD 20M · Oct 2026 (Jungle Ventures)
Last known equity round: Series A · USD 20M · Oct 2026 (Jungle Ventures)Method Be the first Back
43 LucenceSingapore · founded 2016
Offices in San Francisco (Palo Alto), Hong Kong and Suzhou; CLIA-certified US lab.
Medtech › cancer diagnostics USD 29M raised
Series A · USD 20M · Nov 2019 (IHH Healthcare; SGInnovate, Heliconia Capital)
Last known equity round: Series A · USD 20M · Nov 2019 (IHH Healthcare; SGInnovate, Heliconia Capital)Method Be the first Back
44 Cosmos InnovationSingapore · founded 2021 Climate › solar cells raised
Series A · USD 17M · Oct 2023 (Xora Innovation)
Last known equity round: Series A · USD 16.8M · Oct 2023 (Xora Innovation)Method Be the first Back
45 GeniebookSingapore · founded 2017 Edtech › K-12 tutoring raised
Series A · USD 17M · Oct 2021 (East Ventures, Lightspeed)
Last known equity round: Series A · USD 16.6M · Oct 2021 (East Ventures, Lightspeed)Method Be the first Back
46 AllozymesSingapore · founded 2020
Founded by NUS PhD graduates.
Biotech › enzyme engineering raised
Series A · USD 15M · May 2024 (Seventure Partners, Xora Innovation; NUS Technology Holdings, Thia Ventures, SOSV, Entrepreneur First)
Last known equity round: Series A · USD 15M · May 2024 (Seventure Partners, Xora Innovation; NUS Technology Holdings, Thia Ventures, SOSV, Entrepreneur First)Method Be the first Back
47 CoveSingapore · founded 2018
Bought Casa Mia Coliving in Nov 2025.
Proptech › co-living raised
Series A · USD 4.6M · Dec 2020 (Keppel Land; Eurazeo, Antler, Venturra)
Last known equity round: Series A · USD 4.6M · Dec 2020 (Keppel Land; Eurazeo, Antler, Venturra)Method Be the first Back
48 WegoSingapore · founded 2005 Travel › online travel marketplace USD 57M+ raised
Series E · USD 12M · Aug 2017 (MBC Group)
Last known equity round: Series E · USD 12M · Aug 2017 (MBC Group)Method Be the first Back
49 TookitakiSingapore · founded 2014
Founded by Abhishek Chatterjee; development team largely in India.
AI › financial-crime compliance raised
Series A+ · USD 12M · Jul 2021 (Viola FinTech, SIG Asia)
Last known equity round: Series A+ · USD 11.7M · Jul 2021 (Viola FinTech, SIG Asia)Method Be the first Back
50 AugmentusSingapore · founded 2019 Robotics › industrial automation software raised
Series A+ · USD 11M · Jul 2025 (Woori Venture Partners; EDBI, Sierra Ventures, Cocoon Capital)
Last known equity round: Series A+ · USD 11M · Jul 2025 (Woori Venture Partners; EDBI, Sierra Ventures, Cocoon Capital)Method Be the first Back

Back · Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale. · Terms

Ranking in descending order of AI-estimated valuation, based on public information, with no human intervention on the order. The valuations, ranges and brackets shown are editorial estimates produced by AI, purely indicative and imperfect by nature: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Ranking established by Claude (Anthropic) from public information, following the published rules. A consensus of several AIs will apply from 1 December 2026. Eligibility: at least $1M raised in equity, non-listed company, main operations in Singapore. Request a correction

How to read this ranking

Rank

Companies are ranked by AI-estimated valuation, highest first. The market sets the value; AI models estimate it.

Estimate

An AI-estimated valuation, its uncertainty range and its order of magnitude. Indicative, and imperfect by nature.

  1. Hundreds of k$
  2. Millions $
  3. Tens of M$
  4. Hundreds of M$
  5. Unicorn
  6. Decacorn
  7. Hectocorn

Full method →

Rankings by sector

Four verticals at launch, more when the feasibility test allows.
Coming soon · Top 10

Fintech & crypto

Cross-border payments, business accounts, SME lending, wealth apps and digital-asset platforms.

Coming soon · Top 10

Marketplaces & consumer

Used cars, classifieds, cashback, travel, fashion and recruitment.

Coming soon · Top 10

Deeptech & AI

Chiplet packaging, foundation models, voice agents and financial-crime compliance.

Coming soon · Top 10

Health & climate

Antibody and gene therapies, telemedicine, home care, battery recycling and solar cells.

ProptechEdtechLogisticsAgrifoodInsurtech
The Uback Fundraising Desk in Singapore

Introductions made by a Fundraising Desk partner, currently being selected

An adviser licensed by the MAS (Monetary Authority of Singapore), the only party entitled to present Backers’ demand to companies for their funding rounds. Sales of existing shares are handled by Secondary Sales Desks, assigned company by company. Uback remains a media: it ranks and aggregates intentions, it takes part in no transaction.

—deals worked on
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  • Your name on every ranking of the country
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  • The “Uback Fundraising Partner in Singapore” title on your profiles
Discover the partnership No fee at this stage. Exclusive per country on funding rounds. Uback brings investors and visibility, not a guaranteed deal flow.

Radar · known eligible companies, not ranked

Sorted by date of last round, with no judgement and no AI call. Undisclosed amount: the round is confirmed by the press, not its amount.

Born in Singapore, based elsewhere

Companies of Singapore origin whose main operations are now abroad: not ranked, shown with the law governing their shares.

  • Biofourmis · Healthtech › remote patient monitoring
    Founded in Singapore in 2015; HQ in Boston since its 2024 merger with CopilotIQ
    Funding round · about USD 100M · Oct 2024 (General Atlantic, Openspace, Bessemer Venture Partners)Back
  • Holmusk · Healthtech › behavioural health real-world data
    Founded in Singapore in 2015; HQ in New York (offices in Singapore and Basel)
    Series B · USD 45M · Jan 2023 (Veradigm)Back
  • PatSnap · Software › IP and R&D intelligence
    Founded in Singapore in 2007; HQ in Singapore, but most of the team and R&D in Suzhou and Beijing (ranked in China)
    Series E · USD 300M · Mar 2021 (Tencent, SoftBank Vision Fund 2), at above USD 1bnBack
  • Acronis · Cybersecurity › data protection
    Founded in Singapore in 2003; HQ in Schaffhausen, Switzerland (ranked in Switzerland)
    Majority stake bought by EQT · Aug 2024; Growth round · USD 250M · Jul 2022, at USD 3.5bnBack
  • Bybit · Crypto › exchange
    Founded in Singapore in 2018; HQ moved to Dubai in 2022
    No outside equity round knownBack

Born elsewhere, based in Singapore

Companies founded abroad whose main operations are in Singapore.

  • Darwinbox · Software › HR SaaS
    Founded in Hyderabad in 2015; international HQ in Singapore, main team and management in Hyderabad (ranked in India)
    Series D extension · USD 140M · Mar 2025 (KKR, Partners Group)
  • Traveloka · Travel › online travel agency
    Singapore holding; operations and management in Jakarta, Indonesia (ranked in Indonesia)
    Funding round · USD 300M · Sep 2021 (BlackRock, Allianz X, Granite Oak)
  • Kredivo · Fintech › BNPL and consumer credit
    Singapore holding (Kredivo Holdings, formerly FinAccel); operations and management in Jakarta, Indonesia (ranked in Indonesia)
    Series D · about USD 270M · Mar 2023 (Mizuho)
  • Akulaku · Fintech › BNPL and digital bank
    Singapore holding; HQ and management in Jakarta, Indonesia (ranked in Indonesia)
    Funding round · USD 200M · 2022 (MUFG)
  • Xendit · Fintech › payments infrastructure
    Singapore holding; HQ and management in Jakarta, Indonesia, large team in the Philippines (ranked in Indonesia)
    Series D · USD 300M · May 2022 (Coatue, Insight Partners)
  • Ajaib · Fintech › retail investing app
    Singapore holding; HQ and management in Jakarta, Indonesia (ranked in Indonesia)
    Series C · USD 270M · Aug 2026 (SBI Holdings), priced above its 2021 unicorn valuation
  • Pintu · Crypto › exchange
    Singapore holding; operations and management in Jakarta, Indonesia (ranked in Indonesia)
    Series B · USD 113M · 2022
  • Kopi Kenangan · Foodtech › coffee chain
    Singapore holding; operations and management in Jakarta, Indonesia (ranked in Indonesia)
    Series C · USD 96M · Dec 2021
  • eFishery · Agritech › aquaculture
    Singapore holding; operations in Bandung, Indonesia; accounting fraud uncovered in Dec 2024
    Series D · about USD 200M · 2023
  • Sky Mavis · Crypto › Web3 gaming and blockchain (Axie Infinity, Ronin)
    Singapore holding (Sky Mavis Pte Ltd); team and management in Ho Chi Minh City, Vietnam (ranked in Vietnam)
    Series B · USD 152M · Oct 2021 (Andreessen Horowitz), at about USD 3bn
  • VNLife · Fintech › payments (VNPay)
    Singapore holding; operations and management in Hanoi, Vietnam (ranked in Vietnam)
    Series B · USD 250M · Jul 2021 (General Atlantic, Dragoneer)
  • Trusting Social · Fintech › AI credit scoring
    Singapore holding; main team and management in Ho Chi Minh City, Vietnam (ranked in Vietnam)
    Series C · USD 65M · Apr 2022 (Sherpa, a Masan Group unit)
  • Buymed · Healthtech › pharma B2B distribution
    Singapore holding; operations and management in Ho Chi Minh City, Vietnam (ranked in Vietnam)
  • Flipkart · E-commerce › marketplace
    Bangalore, India; Singapore holding moved to India in 2026 (ranked in India)
    Controlled by Walmart; USD 350M from Google in 2024
  • PhonePe · Fintech › UPI payments
    Bangalore, India; Singapore holding moved to India in 2022 (ranked in India)
    Funding round · USD 850M · 2023 (General Atlantic), at USD 12bn
  • InMobi · Adtech › mobile advertising
    Singapore holding; HQ and management in Bangalore, India (ranked in India)
    No new primary equity since a founder-led buyback in 2025
  • Moglix · B2B commerce › industrial procurement
    Singapore holding; HQ and management in Noida, India (ranked in India)
    Series F · USD 250M · May 2022, at USD 2.6bn
  • Shein · E-commerce › fast fashion
    Legal HQ in Singapore since 2021; supply chain, most staff and management in Guangzhou, China (ranked in China)
    Funding round · USD 2bn · May 2023 (Mubadala, General Atlantic), at USD 66bn
  • Insider · Software › marketing automation
    Founded in Istanbul in 2012; declares HQ in Singapore but main team and management largely in Istanbul (ranked in Türkiye)
    Series E · USD 500M · Nov 2024 (General Atlantic)
  • Fazz · Fintech › SME payments & banking
    Singapore holding (Xfers/StraitsX side); operations and management mainly in Jakarta (ranked in Indonesia)
    Series C · USD 100M · 2022 (Tiger Global, Insignia Ventures)

Not ranked

  • Grab · Listed on Nasdaq (GRAB) since Dec 2021 (SPAC)
  • Sea · Listed on NYSE (SE) since 2017
  • Karooooo · Listed on Nasdaq (KARO) since 2021
  • Ryde · Listed on NYSE American (RYDE) since 2024
  • MoneyHero · Listed on Nasdaq (MNY) since 2023 (SPAC)
  • iFAST · Listed on SGX (AIY) since 2014
  • PropertyGuru · Bought: taken private by EQT (about USD 1.1bn), completed Dec 2024, delisted from NYSE
  • Horangi · Bought by Bitdefender, completed Aug 2023
  • Chope · Bought by Grab (Jul 2024)
  • Singlife · Bought: full subsidiary of Sumitomo Life since Mar 2024
  • Manus · Moved to Singapore in 2025; bought by Meta (Dec 2025)
  • Zilingo · Closed: liquidation after 2022 governance crisis
  • DayOne · Spun out of GDS Holdings: created by a group
  • Princeton Digital Group · Data-centre platform created and controlled by Warburg Pincus
  • Digital Edge · Data-centre platform created by Stonepeak
  • bolttech · Created by Pacific Century Group in 2020 and still majority-owned by it
  • Klook · Headquartered in Hong Kong (filed for a NYSE IPO, ticker KLK); not Singaporean
  • Partior · Created by DBS, J.P. Morgan, Standard Chartered and Temasek
  • Instarem · Brand of Nium (same company)
  • Lazada · Bought by Alibaba (2016-2018)
  • Hashkey · Headquartered in Hong Kong
  • Independent Reserve · Headquartered in Sydney, Australia (Singapore is a licensed subsidiary)
  • Pomelo Fashion · Headquartered in Bangkok, Thailand
  • Shiok Meats · Merged into Umami Bioworks in 2024
  • Tessa Therapeutics · Entered liquidation in 2023 after failing to secure funding
  • Ensign InfoSecurity · Created by Temasek
  • Ahrefs · Bootstrapped SEO software company without outside equity

The method in Singapore

Calendar. Quarterly ranking, published on the 2nd of February, May, August and November. Next edition: November 2, 2026.

Eligibility: at least $1M raised in equity, non-listed company, main operations in Singapore.

Fundraising Desk sought. An adviser licensed by the MAS (Monetary Authority of Singapore).

Sources. Singapore and international business and technology press (The Business Times, The Straits Times, DealStreetAsia, Tech in Asia, e27, KrASIA, TechCrunch, Bloomberg, Reuters), company and investor announcements.

Method and rules, common to all countries →