Led by $900m venture financing of Trade Republic Bank, total financial services industry cross border venture financing deals worth $3bn were announced in Europe in Q2 2021, according to GlobalData’s deals database.
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The value marked an increase of 63.7% over the previous quarter and a rise of 298.3% when compared with the last four-quarter average of $748.26m.
Europe held a 34.25% share of the global financial services industry cross border venture financing deal value that totalled $8.7bn in Q2 2021. With an 11.44% share and deals worth $995.17m, Germany was the top country in Europe’s cross border venture financing deal value across financial services industry.
In terms of deal activity, Europe recorded 40 cross border deals during Q2 2021, marking a decrease of 2.44% over the previous quarter and a rise of 25.00% over the last four-quarter average. The UK recorded 11 deals during the month.
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By GlobalDataEurope financial services industry cross border venture financing deals in Q2 2021: Top deals
The top five cross border venture financing deals accounted for 85.4% of the overall value during Q2 2021.
The combined value of the top five financial services cross border venture financing deals stood at $2.54bn, against the overall value of $3bn recorded for the quarter.
The top five financial services cross border deals of Q2 2021 tracked by GlobalData were:
1) Accel, Creandum Advisor, Founders Fund, Project A Services GmbHKG, Sequoia Capital Operations, TCMI and Thrive Capital Partners’ $900m venture financing of Trade Republic Bank
2) The $800m venture financing of Mollie by Alkeon Capital, Blackstone Growth, EQT Growth, General Atlantic, HMI Capital and TCV
3) Adit Ventures, Honeycomb Asset Management, SoftBank Vision Fund two and Westcap Group’s $639m venture financing of Klarna Bank
4) The $125m venture financing of PaySend Group by Hermes GPE Innovation Fund, Infravia Growth Capital, One Peak Partners and Plug and Play
5) Breyer Capital and Tencent Holdings’ venture financing of Viva Payments Services for $80m.
