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  1. Deals Analysis
June 22, 2022

Financial Services industry cross border venture financing deals total $2.2bn globally in May 2022

By Jessika and Carmen

The $300m venture financing of Xendit was the Financial services industry’s top cross border venture financing deal as total deals worth $2.2bn were announced globally in May 2022, according to GlobalData’s deals database.

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The value marked an increase of 95.5% over the previous month of $1.1bn and a drop of 19.2% when compared with the last 12-month average, which stood at $2.66bn.

Comparing cross border venture financing deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $981.7m. At the country level, the US topped the list in terms of deal value at $813.3m.

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

The top country in terms of cross border venture financing deals activity in May 2022 was the US with five deals, followed by the UK with four and India with four.

In 2022, as of May, Financial services cross border venture financing deals worth $9.4bn were announced globally, marking an increase of 39.1% year on year.

Financial services industry cross border venture financing deals in May 2022: Top deals

The top five Financial services industry cross border venture financing deals accounted for 38.7% of the overall value during May 2022.

The combined value of the top five Financial services cross border venture financing deals stood at $833.22m, against the overall value of $2.2bn recorded for the month.

The top five Financial services industry cross border venture financing deals of May 2022 tracked by GlobalData were:

1) Accel,Amasia,Coatue,EV Growth ,Goat Capital,Insight Partners,Intudo Ventures,Kleiner Perkins and Tiger Global Management $300m venture financing deal with Xendit

2) The $193.02m venture financing of Alan by Coatue Management,Dragoneer Investment Group,EXOR,Index Ventures,Lakestar Advisors,Ontario Teachers’ Pension Plan,Ribbit Capital,Teachers Venture Growth (TVG) and Temasek Holdings (Private)

3) Altos Ventures,Blank Slate Ventures,Gaingels,Knollwood Investment Advisory,Maple VC Partners,Tribe Capital and Valar Ventures $145.2m venture financing deal with Neo Financial Technologies

4) The $115m venture financing of Upsider by DST Global and World Innovation Lab (WiL fund)

5) 10T Holdings,BAI Capital,Circle Ventures,Dragonfly Capital Partners and Jeneration Capital $80m venture financing deal with Moonalpha Financial Serviced

Verdict deals analysis methodology

This analysis considers only announced and completed cross border deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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