How Fintech In Malaysia Matured In 2023, How The Malaysian Landscape Standouts, And Key Trends Ahead

2023 saw fintech funding in Southeast Asia hit a 5-year low as fintech firms in the region raised just US$2 billion in 2023, down 65% from 2022 and 77% lower than 2021, while the number of deals fell 50% — just 142 in 2023 compared to 288 in 2022, as per the Tracxn Geo Annual Report: SEA FinTech 2023.

With this in mind, Enterprise Explores the dynamic and rapidly evolving fintech sector in Malaysia, with Farah Jaafar, Vice President of Fintech Association of Malaysia (FAOM) and Low Zhen Hui, a Managing Partner at venture capital firm Artem Ventures.

Among other things, we got into where the Malaysian fintech scene is today and the milestones and challenges over the past year, key trends to watch ahead, the importance of bringing in talent, whether investor confidence in the sector has wavered, and much more.