Fintech News Singapore – November 6, 2024
Italy’s fintech sector is making a strong showing at the Singapore Fintech Festival 2024 held from 6-8 November.
With over 66,000 attendees from over 150 countries, the festival provides a prime platform for Italy to showcase its burgeoning fintech industry.
The Italian Trade Agency, with support from the Italian Ministry of Foreign Affairs and International Cooperation, has organised a dedicated Italian Pavilion featuring nine innovative companies.
These companies are presenting their fintech solutions, aiming to forge international partnerships and explore new business opportunities.
Italy’s fintech industry has seen significant expansion, with lending to small and medium enterprises and supply chain finance reaching nearly US$3.89 billion in the first half of 2023 alone.
Since the sector’s inception in 2016, fintech lending has surpassed US$24.19 billion.
Revenue in Italy’s fintech sector has surged, rising from about US$123 million in 2017 to more than US$3.37 billion in 2024.
The Italian Pavilion officially opened today (6 November), with an introduction by Ilaria Piccinni, Deputy Director of the Italian Trade Agency Singapore, and addresses from Dante Brandi, Italian Ambassador to Singapore, and Claudia Segre, Vice President of AssoFintech.
Throughout the festival, the pavilion will host a series of presentations showcasing Italian fintech innovation across various sub-sectors, including mobile banking, blockchain technology, proptech, insurtech, and cybersecurity.
AssoFintech, an Italian fintech association, partnered with the Italian Trade Agency to curate the pavilion’s content and facilitate connections between Italian startups and international investors.
Dante Brandi, Ambassador of Italy to Singapore, said,
“We are proud to showcase Italy’s dynamic fintech ecosystem at this prestigious global platform. Over the past eight years, the Italian fintech sector has experienced impressive growth, both in terms of funding and the development of cutting-edge solutions that are making a notable impact on the international stage.
Through the presentations of our innovative startups to global investors and industry leaders at SFF, we are confident that we can further accelerate the growth of Italian fintech and foster new opportunities for collaboration and expansion.”
https://fintechnews.sg/103268/singapore-fintech-festival-2024/italy-singapore-fintech-festival
