Akshay Garg raised $90m for his Indonesian fintech start-up FinAccel earlier this month, from investors including the South Korean group Mirae.
FinAccel is growing fast, with more than a million customers using its Kredivo service, which extends credit to let online shoppers buy first and pay later. But Mr Garg credits Singapore, where its holding company is based, for making it easy for him to access capital.
“The entire south-east Asia [tech] ecosystem would not exist without Singapore,” he said. “Singapore Inc is critical. We are only here because of Singapore. Without the connection to Singapore, we couldn’t have gotten money from South Korea.”
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