The $450m venture financing of Checkout was the financial services industry’s top cross border venture financing deal as total deals worth $2.11bn were announced globally in January 2021, according to GlobalData’s deals database.

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The value marked an increase of 244.7% over the previous month of $612.13m and a rise of 338.6% when compared with the last 12-month average, which stood at $481.1m.

Comparing cross border venture financing deals value in different regions of the globe, Europe held the top position, with total announced deals in the period worth $1.16bn. At the country level, the UK topped the list in terms of deal value at $932.04m.

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

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The top country in terms of cross border venture financing deals activity in January 2021 was the Singapore with five deals, followed by the US with five and the UK with four.

In 2021, as of January, financial services cross border venture financing deals worth $2.11bn were announced globally, marking a decrease of 326.8% year on year.

financial services industry cross border venture financing deals in January 2021: Top deals

The top five financial services industry cross border venture financing deals accounted for 77.1% of the overall value during January 2021.

The combined value of the top five financial services cross border venture financing deals stood at $1.63bn, against the overall value of $2.11bn recorded for the month.

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

1) Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst, GIC, Greenoaks Capital Management, Insight Partners and Tiger Global Management’s $450m venture financing of Checkout

2) The $400m venture financing of NU Pagamentos by Dragoneer Investment Group, GIC, Invesco, Kaszek Ventures, Ribbit Capital, Sequoia Capital Operations, Tencent Holdings and Whale Rock Capital Management

3) Hanwha Asset Management’ $300m venture financing of Grab Financial Group

4) The $300m venture financing of CashDash by Avid Ventures, Coatue Management, Durable Capital Partners, Entree Capital, FJ Labs, General Catalyst Partners, Latitude Partners, Oak HC/FT Partners, Spark Capital, Tal Capital Group, Target Global and Tiger Global Management

5) Eurazeo Growth, Sprints Capital Management and Wellington ManagementLLP’s venture financing of PPRO Financial for $180m.