Central Business district of Jakarta in Indonesia capital city.getty
The Southeast Asian tech sector overall raised US$4.3 billion in 2023 (as of December 5, 2023), down 65% from US$12.4 billion raised in the same period the year before. In the ASEAN countries, fintech funding hit a five-year low in 2023 with firms in the region raising just US$2 billion, a 65 percent plunge from US$5.9 billion in 2022. Notably, seed-stage funding saw an even more pronounced decline, dropping by 84% to US$9.5 million.
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