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  1. Deals Analysis
November 25, 2022

Financial Services industry cross border venture financing deals total $521.5m globally in October 2022

By Carmen

The $150m venture financing of Bilt Rewards was the financial services industry’s top cross border venture financing deal as total deals worth $521.5m were announced globally in October 2022, according to GlobalData’s deals database.

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The value marked a decrease of 31.5% over the previous month of $761.26m and a drop of 72.7% when compared with the last 12-month average, which stood at $1.91bn.

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 $254.9m. At the country level, the US topped the list in terms of deal value at $254.9m.

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

The top country in terms of cross border venture financing deals activity in October 2022 was the US with ten deals, followed by the Singapore with three and the UK with three.

In 2022, as of October, financial services cross border venture financing deals worth $17.79bn were announced globally, marking a decrease of 45% year on year.

financial services industry cross border venture financing deals in October 2022: Top deals

The top five financial services industry cross border venture financing deals accounted for 73.8% of the overall value during October 2022.

The combined value of the top five financial services cross border venture financing deals stood at $385m, against the overall value of $521.5m recorded for the month.

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

1) Camber Creek, Fifth Wall Ventures Management, Greystar Real Estate Partners, Invitation Homes, Left Lane Capital, Prosus Ventures, Smash Capital and Wells Fargo’s $150m venture financing deal with Bilt Rewards

2) The $100m venture financing of Airwallex by 1835i Ventures, Hermitage Capital, Hostplus Superannuation Fund, Lone Pine Capital, Salesforce Ventures, Sequoia Capital China, Square Peg Capital and Tencent Holdings

3) Edison Partners, Nexi and REVAIA’s $55m venture financing deal with goHenry

4) The $40m venture financing of Jiko Technologies by Anthem Venture Partners, AV Capital Management, BPI France, La Maison Partners, Owen Van Natta, Radicle Impact, Red River West, Temaris & Associates, Trousdale Ventures and Upfront Ventures

5) Abacus Ventures Trust, Acorn Pacific Ventures, Arcadia funds, Fresco Capital, HashKey Capital, Hustle Fund and Payment Asia (International)’s $40m venture financing deal with Reap Technologies

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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