Total financial services industry venture financing deals worth $1.29bn were announced in Europe in January 2021, led by $450m venture financing of Checkout, according to GlobalData’s deals database.

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The value marked an increase of 231.5% over the previous month of $389.12m and a rise of 437.5% when compared with the last 12-month average of $239.99m.

Europe held a 36.13% share of the global financial services industry venture financing deal value that totalled $3.57bn in January 2021. With a 26.88% share and deals worth $959.68m, the UK was the top country in Europe’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, Europe recorded 22 deals during January 2021, marking a decrease of 4.35% over the previous month and a flat growth over the 12-month average. The UK recorded eight deals during the month.

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Europe financial services industry venture financing deals in January 2021: Top deals

The top five financial services industry venture financing deals accounted for 83.4% of the overall value during January 2021.

The combined value of the top five financial services venture financing deals stood at $1.07bn, against the overall value of $1.29bn recorded for the month.

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

1) Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst, GIC, Greenoaks Capital Management, Insight Partners and Tiger Global Management’s $450m venture financing of Checkout

2) The $300m venture financing of CashDash by Avid Ventures, Coatue Management, Durable Capital Partners, Entree Capital, FJ Labs, General Catalyst Partners, Latitude Partners, Oak HC/FT Partners, Spark Capital, Tal Capital Group, Target Global and Tiger Global Management

3) Eurazeo Growth, Sprints Capital Management and Wellington ManagementLLP’s $180m venture financing of PPRO Financial

4) The $85m venture financing of SClark Germany by Portag3 Ventures, Tencent Holdings, White Star Capital and yabeo Capital

5) Bpifrance, Cathay Innovation Fund, IDInvest Partners, Picus Capital and Seaya Ventures’ venture financing of Alma for $59.63m.