Europe’s financial services industry saw a drop of 27.66% in cross border deal activity during September 2022, when compared with the last 12-month average, led by Tencent Holdings’ $297.62m acquisition of 49% stake in Guillemot Brothers, according to GlobalData’s deals database.

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A total of 34 financial services industry cross border deals worth $402.7m were announced for the region in September 2022, against the 12-month average of 47 deals.

Of all the deal types, M&A saw most activity in September 2022 with 21 transactions, representing a 61.8% share for the region.

In second place was venture financing with nine deals, followed by private equity deals with four transactions, respectively capturing a 26.5% and 11.8% share of the overall cross border deal activity for the month.

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In terms of value of cross border deals, M&A was the leading category in Europe’s financial services industry with $324.03m, followed by venture financing deals totalled $78.65m.

Europe financial services industry cross border deals in September 2022: Top deals

The top five financial services cross border deals accounted for 98.1% of the overall value during September 2022.

The combined value of the top five financial services cross border deals stood at $395.05m, against the overall value of $402.7m recorded for the month.

The top five financial services industry cross border deals of September 2022 tracked by GlobalData were:

1) Tencent Holdings’s $297.62m acquisition deal for 49.9% stake in Guillemot Brothers

2) The $50m venture financing of Portofino Technologies by Coatue Management, GFC Global Founders Capital and Valar Ventures

3) Kingswood Holdings’s $25m acquisition deal for 70% stake in Moloney Investments

4) The $14.92m venture financing of ArK Kapital by Annika Falkengren, Creandum, Hjalmar Winbladh, Ilkka Paananen, Jacob de Geer, LocalGlobe, Patrick Soderlund and Timo Soininen

5) Audeo Ventures, Auxxo Female Catalyst Fund, Clocktower Ventures, FJ Labs, LeFonds, Moving Capital and Sie Ventures’s $7.5m venture financing deal with Rosaly