Total financial services industry venture financing deals worth $2.97bn were announced in North America in February 2021, led by $2.4bn venture financing of Robinhood Financial, according to GlobalData’s deals database.

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The value marked an increase of 121.6% over the previous month of $1.34bn and a rise of 220.9% when compared with the last 12-month average of $925.53m.

North America held an 85.84% share of the global financial services industry venture financing deal value that totalled $3.46bn in February 2021. With an 85.26% share and deals worth $2.95bn, 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 42 deals during February 2021, marking an increase of 2.44% over the previous month and a rise of 16.67% over the 12-month average. The US recorded 38 deals during the month.

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

The top five financial services industry venture financing deals accounted for 89.4% of the overall value during February 2021.

The combined value of the top five financial services venture financing deals stood at $2.66bn, against the overall value of $2.97bn recorded for the month.

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

1) Andreessen Horowitz, ICONIQ Capital, Index Ventures, New Enterprise Associates, Ribbit Capital and Sequoia Capital Operations’ $2.4bn venture financing of Robinhood Financial

2) The $125m venture financing of Stash Financial by Eldridge Industries, Entree Capital, Goodwater Capital, Owl Ventures and T Rowe Price Associates

3) American Family Ventures, Liberty Mutual Strategic Ventures, Moderne Ventures, Mucker Capital, SoftBank Ventures Asia, Strata Equity Group, Vertex Ventures US, Veteran Ventures Capital, Westerly Winds and Wildcat Venture Partners’ $52m venture financing of LeaseLock

4) The $50m venture financing of SValon Mortgage by 166 2nd, Andreessen Horowitz, Jefferies Financial Group and New Residential Investment

5) Citigroup, Deutsche Bank, Goldman SachsLLC, HSBC, Intel Capital, J.P. Morgan Securities, Nyca Partners, UBS Securities and Wells Fargo Securities’ venture financing of Schvey for $31m.