The $300m venture financing of Acorns Grow was the financial services industry’s top venture financing deal as total deals worth $3.2bn were announced globally in March 2022, according to GlobalData’s deals database.

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The value marked a decrease of 11.3% over the previous month of $3.55bn and a drop of 29.05% when compared with the last 12-month average, which stood at $4.44bn.

Comparing venture financing deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $1.79bn. At the country level, the US topped the list in terms of deal value at $1.75bn.

In terms of volumes, North America emerged as the top region for financial services industry venture financing deals globally, followed by Asia-Pacific and then Europe.

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The top country in terms of venture financing deals activity in March 2022 was the US with 40 deals, followed by the India with 12 and the UK with eight.

In 2022, as of March, financial services venture financing deals worth $11.5bn were announced globally, marking a decrease of 6.3% year on year.

financial services industry venture financing deals in March 2022: Top deals

The top five financial services industry venture financing deals accounted for 39.1% of the overall value during March 2022.

The combined value of the top five financial services venture financing deals stood at $1.23bn, against the overall value of $3.2bn recorded for the month.

The top five financial services industry venture financing deals of March 2022 tracked by GlobalData were:

1) Bain Capital Ventures,BlackRock,Galaxy Digital,Greycroft Partners,Industry Ventures Fund IV,Owl Rock Capital,Senator Investment Group,Thirty Five Ventures,Torch Capital and TPG Capital $300m venture financing deal with Acorns Grow

2) The $285.58m venture financing of China Korea Life Insurance by Guotai Junan Securities,Wenzhou Delivery,Wenzhou Electric Power Investment,Wenzhou Guojin Industry And Trade,Zhejiang Changxing Tianneng Financial Holding and Zhejiang Dongfang Fuel

3) Blue Star Innovation Partners,Greater Sum Ventures and HarbourVest Partners $245m venture financing deal with FattMerchant

4) The $220m venture financing of Knockaway by First American Financial,Foundry Group,Mauricio Umansky,National Association of Realtors,Night Shyamalan and RRE Ventures

5) Creandum Advisor,Hjalmar Winbladh,Ilkka Paananen,Jacob de Geer and LocalGlobe $181.03m venture financing deal with ArK Kapital