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Major tech startups APAC 2019 by funding

Chinese startup Ant Financial raced ahead of other Asia Pacific tech startups in terms of disclosed funding, with over 19.14 billion U.S. dollars’ worth of funding in 2019. Singaporean-based startup Grab followed Art Financial with a total disclosed funding of over 8.95 million U.S. dollars in 2019.

Leading companies

Holding the global title for most valuable unicorn (a startup company valued at over one billion U.S. dollars), Ant Financial Services Group is valued at approximately 125 billion U.S. dollars. Therefore, it does not seem surprising that the FinTech company is the highest earning tech startup throughout the whole Asia Pacific region. With its headquarters based in Hangzhou, China, Ant Financial is an affiliate company of the Chinese Alibaba Group. Standing as one of Ant Financial’s Asia Pacific competitors, Singapore’s Grab Holdings Inc. remains one of the country’s most valuable startups, serving as a ride-hailing company which also offers food delivery and digital payment services. It was ranked the leading tech unicorn in Southeast Asia in terms of funds raised. Grab also made the top 20 ranking for leading unicorns worldwide.

Evolution of startups in Asia Pacific

Previously, the Asia Pacific region fell behind the like of the U.S. in terms of the rate of startups. While Asia Pacific startups would previously look towards U.S. companies as a model to aspire to, now the Asia Pacific region recognizes itself as being the home to some of the world’s most successful startups. The region no longer aims to create Asia Pacific versions of Western companies but follows its own models and branding. Thus, this makes the future of Asia Pacific startups appear promising.

Major tech startups in the Asia Pacific region in 2019, by total disclosed funding

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Source

Release date

April 2020

Region

APAC

Survey time period

2019

Supplementary notes

List includes VC-backed tech companies with new funding since 2015. List excludes countries whose startups has not raised more than 200 thousand U.S. dollars as well as debt and lines of credit.

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Statistics on "Startups in Asia Pacific"

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