Total financial services industry venture financing deals worth $2.3bn were announced in the US in August 2021, led by $750m venture financing of Chime Financial, according to GlobalData’s deals database.

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The value marked an increase of 80% over the previous month of $1.3bn and a rise of 50% when compared with the last 12-month average of $1.56bn.

The US held a 43.98% share of the global financial services industry venture financing deal value that totalled $5.32bn in August 2021.

In terms of venture financing deal activity, the US recorded 42 deals during August 2021, marking a decrease of 41.67% over the previous month and a drop of 8.70% over the 12-month average.

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US financial services industry venture financing deals in August 2021: Top deals

The top five financial services industry venture financing deals accounted for 73.6% of the overall value during August 2021.

The combined value of the top five financial services venture financing deals stood at $1.72bn, against the overall value of $2.3bn recorded for the month.

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

1) Dragoneer Investment Group,General Atlantic,Sequoia Capital Global Equities,SoftBank Vision Fund 2 and Tiger Global Management $750m venture financing deal with Chime Financial

2) The $450m venture financing of DriveWealth by Accel,Base 10 Ventures,Citi Ventures,Fidelity International Strategic Ventures,FLIGHTDECK SOLUTIONS,FTX Exchange,Greyhound Capital Europe,Insight Partners,Point72 Asset Management and SoftBank Group US

3) Altimeter Capital Management,Amex Ventures,B Capital Group,Sapphire Ventures and Tiger Global Management $210m venture financing deal with FalconX

4) The $200m venture financing of Human Interest by Crosslink Capital,Glynn Capital Management,NewView Capital,Slow Capital,SoftBank Vision Fund 2,Susa Ventures,The Rise Fund,U.S. Venture Partners (USVP),Uncork Capital and Wing Venture Capital

5) 3L Capital,Goldman Sachs Asset Management and Hudson Structured Capital Management $110m venture financing deal with Dealerpolicy