Total financial services industry venture financing deals worth $1.1bn were announced in Asia-Pacific in May 2022, led by $300m venture financing of Xendit, according to GlobalData’s deals database.

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The value marked an increase of 47.9% over the previous month of $736.84m and a rise of 22.6% when compared with the last 12-month average of $888.79m.

Asia-Pacific held a 27.53% share of the global financial services industry venture financing deal value that totalled $3.96bn in May 2022. With a 9.60% share and deals worth $380m, Indonesia was the top country in Asia-Pacific’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, Asia-Pacific recorded 31 deals during May 2022, marking an increase of 47.62% over the previous month and a flat growth over the 12-month average. India recorded nine deals during the month.

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Asia-Pacific financial services industry venture financing deals in May 2022: Top deals

The top five financial services industry venture financing deals accounted for 74.4% of the overall value during May 2022.

The combined value of the top five financial services venture financing deals stood at $811.19m, against the overall value of $1.1bn recorded for the month.

The top five financial services industry 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 $236.19m venture financing of Huatai Great Wall Futures by Huatai Securities

3) DST Global and World Innovation Lab (WiL fund) $115m venture financing deal with Upsider

4) The $80m venture financing of Moonalpha Financial Serviced by 10T Holdings,BAI Capital,Circle Ventures,Dragonfly Capital Partners and Jeneration Capital

5) GIC and Prosus Ventures $80m venture financing deal with PT Bibit Tumbuh Bersama