Total financial services industry venture financing deals worth $1.27bn were announced in North America in January 2021, led by $1bn venture financing of Robinhood Financial, according to GlobalData’s deals database.

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The value marked an increase of 60.7% over the previous month of $785.11m and a rise of 37.4% when compared with the last 12-month average of $924.06m.

North America held a 35.57% share of the global financial services industry venture financing deal value that totalled $3.57bn in January 2021. With a 35.29% share and deals worth $1.26bn, the US was the top country in North America’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, North America recorded 24 deals during January 2021, marking a decrease of 33.33% over the previous month and a drop of 31.43% over the 12-month average. The US recorded 23 deals during the month.

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North America financial services industry venture financing deals in January 2021: Top deals

The top five financial services industry venture financing deals accounted for 92.2% of the overall value during January 2021.

The combined value of the top five financial services venture financing deals stood at $1.17bn, against the overall value of $1.27bn recorded for the month.

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

1) Ribbit Capital and Sequoia Capital Operations’ $1bn venture financing of Robinhood Financial

2) The $95m venture financing of Rhino New York by Kairos Venture Investments, Lakehouse Equity Fund, Lakestar Advisors and Tiger Global Management

3) BP Ventures, Macquarie Group, Oxy Low Carbon Ventures and Shaw & Partners’ $40m venture financing of Xpansiv CBL Holding Group

4) The $24m venture financing of SParkside Securities by Colle Capital Partners, Enlight Growth Partners, Entree Capital, FinTech Collective, Mubadala-Capital Ventures and Peak6 Investments

5) BNP Paribas, EQT Ventures, Innovation Growth Ventures, Octopus Ventures, Opera Tech Ventures, SBI Investment and Sony Innovation Fund’ venture financing of Token for $15m.