The $900m venture financing of Trade Republic Bank was the financial services industry’s top cross border venture financing deal as total deals worth $2.9bn were announced globally in May 2021, according to GlobalData’s deals database.

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The value marked an increase of 70.4% over the previous month of $1.69bn and a rise of 169.2% when compared with the last 12-month average, which stood at $1.07bn.

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 $1.13bn. At the country level, the Germany topped the list in terms of deal value at $900m.

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

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

In 2021, as of May, financial services cross border venture financing deals worth $11.02bn were announced globally, marking a decrease of 774.3% year on year.

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

The top five financial services industry cross border venture financing deals accounted for 75.2% of the overall value during May 2021.

The combined value of the top five financial services cross border venture financing deals stood at $2.17bn, against the overall value of $2.9bn recorded for the month.

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

1) Accel, Creandum Advisor, Founders Fund, Project A Services GmbHKG, Sequoia Capital Operations, TCMI and Thrive Capital Partners’ $900m venture financing of Trade Republic Bank

2) The $610m venture financing of Wealthsimple by Aubrey Drake Graham, Greylock Partners, iNovia Capital, Meritech Capital Partners, Michael J. Fox, Redpoint Ventures, Ryan Reynolds , Sagard, TCV and Two Sigma Ventures

3) Sodexo and SoftBank Vision Fund II’ $250m venture financing of Better World Technology Pvt.

4) The $250m venture financing of The Badger TechnologyS.A.S. by Bond Capital Management, Coatue Management, Kaszek Ventures, Pantera Capital Management, Paradigm (US), QED Investors, Tiger Global Management and Valor Capital Group

5) Cathay Capital Private Equity, Hike Capital, Northern Light Venture Capital, Qiming Venture Partners, Source Code Capital and Susquehanna International Group’s venture financing of Yuanbao Insurance Broker (Beijing) for $155.44m.