8 Startups in Singapore to Keep an Eye on This Year

Singapore is a city that wears many hats. From being known as the “Garden City” and one of Asia’s financial hubs, Singapore is now gaining traction as the Silicon Valley of Asia. 

It’s not hard to understand why Singapore’s startup scene is thriving. The city-island ranked second on the World Bank’s list of 190 countries rated for the ease of doing business. It topped the likes of Hong Kong, Denmark, and South Korea, reflecting the conduciveness of the city’s regulatory environment to operating a business. As a result, the city is now a magnet to startups who want to grab a slice of the big funding cake. Here are the top startups in Singapore you should keep an eye on this year. 

1. Seedly 

Founded in 2016, Seedly is a designer and developer of mobile app software that enables users to create a smart budget plan. The app can be synced with the users’ bank accounts for better cash flow management. It also allows users to categorize their expenses and get an overview of their monthly balance.  

ShopBack, a cashback rewards program, sold its stake in Seedly to Hong Kong’s CompareAsiaGroup last year. 

2. Funding Societies

This tech startup in Singapore is a peer-to-peer lending platform that links investors to SMEs that need additional funding. Its financing options include microloan, term loan, and invoice financing. According to Startup SG data, Funding Societies employs about 100 to 200 workers.

3. CardUp

Aiming to simplify the payments process for businesses, CardUp allows companies to collect payments for big-ticket purchases using credit cards, even if the recipient does not accept a card. This includes payments made using cash, bank transfer, or cheques. In return, consumers get to enjoy some of the benefits of paying via a credit card such as having an extended term and cashback rewards. CardUp also enables businesses to automate their payment processing for a smoother transaction.

4. InfoTrie

Also included in the top startups in Singapore is InfoTrie, a company that uses algorithms to analyze unstructured financial data and transform them into actionable alerts. Subscribers can use InfoTrie’s services to watch out for market-moving signals and monitor their portfolio. The tech startup in Singapore has offices in Europe and India.

5. Ninja Van

Ninja Van is a technology-enabled express courier company that serves clients across Southeast Asia. It is said to be one of the fastest-growing logistics companies in the region, with the bulk of its revenues coming from the e-commerce industry. The company has more than 200 employees, according to Startup SG data.

6. MoneySmart

Also, part of the top startups in Singapore is MoneySmart, a financial portal of loan comparisons, blogs, and financial product information that enables its users to make smart money-related decisions. It started out as a mortgage comparison company before branching out to other products and services.

7. Insider

Designed for digital marketers, Insider developed a product called Multichannel Growth Management Platform to provide insights into customer behavior. It uses artificial intelligence and machine learning to generate relevant data that marketers can utilize to improve their customers’ experience across various platforms such as ad channels, web, and mobile apps.

8. Doctor Anywhere

This Singapore-based startup designed a digital platform for teleconsultation, backed by its wide network of medical professionals. More than 1,300 health care providers based in Singapore, Thailand, and Vietnam are on Doctor Anywhere’s platform. The company was incorporated in August 2016.