Asia-Pacific’s financial services industry saw a rise of 3.45% in cross border deal activity during September 2021, when compared with the last 12-month average, led by PayPal Holdings’ $2.73bn acquisition of Paidy, according to GlobalData’s deals database.

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A total of 30 financial services industry cross border deals worth $3.8bn were announced for the region in September 2021, against the 12-month average of 29 deals.

Of all the deal types, venture financing saw most activity in September 2021 with 22 transactions, representing a 73.3% share for the region.

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In second place was M&A with six deals, followed by private equity deals with two transactions, respectively capturing a 20% and 6.7% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in Asia-Pacific’s financial services industry with $2.83bn, while venture financing and private equity deals totalled $970.7m and $9.09m, respectively.

Asia-Pacific financial services industry cross border deals in September 2021: Top deals

The top five financial services cross border deals accounted for 88.3% of the overall value during September 2021.

The combined value of the top five financial services cross border deals stood at $3.37bn, against the overall value of $3.8bn recorded for the month.

The top five financial services industry cross border deals of September 2021 tracked by GlobalData were:

1) PayPal Holdings $2.73bn acquisition deal with Paidy

2) The $200m venture financing of Airwallex by 1835i Ventures,DST Global,G Squared,Lone Pine Capital,Salesforce Ventures,Sequoia Capital China and Vetamer Capital Management

3) Accel,Amasia Ventures,Goat Capital and Tiger Global Management $150m venture financing deal with Xendit

4) The $150m venture financing of Ascend Money by ANT Group,Bow Wave Capital Management and Charoen Pokphand Group

5) D1 Capital Partners and Lavender Hill Capital Partners $138m venture financing deal with Xtransfer