Total financial services industry venture financing deals worth $1.4bn were announced in Europe in February 2022, led by $497m venture financing of Scalapay, according to GlobalData’s deals database.

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The value marked an increase of 2.2% over the previous month of $1.36bn and a rise of 35% when compared with the last 12-month average of $1.03bn.

Europe held a 45.72% share of the global financial services industry venture financing deal value that totalled $3.04bn in February 2022. With a 16.51% share and deals worth $502.03m, Italy was the top country in Europe’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, Europe recorded 38 deals during February 2022, marking an increase of 52.00% over the previous month and a rise of 26.67% over the 12-month average. The UK recorded 17 deals during the month.

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Europe financial services industry venture financing deals in February 2022: Top deals

The top five financial services industry venture financing deals accounted for 69.2% of the overall value during February 2022.

The combined value of the top five financial services venture financing deals stood at $962.92m, against the overall value of $1.4bn recorded for the month.

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

1) Deimos Ventures,Fasanara Capital Credit Strategies Fund,Moore Capital Management,Rakesh Gangwal,Tencent Holdings,Tiger Global Management and Willoughby Capital Management $497m venture financing deal with Scalapay

2) The $131.41m venture financing of Alma by Bpifrance Financement,Cathay Innovation ,Eurazeo,GR Capital,Picus Capital,Roosh Ventures,Seaya Ventures and Tencent Holdings

3) Fasanara Capital $120m venture financing deal with ViaBill

4) The $114.51m venture financing of Vivid Money by Greenoaks Capital Partners,Ribbit Capital and SoftBank Vision Fund II

5) Endeavor Catalyst,HubSpot Ventures,Jigsaw VC,Lightspeed Venture Partners – US and Sprints Capital Management $100m venture financing deal with Payhawk