The $497m venture financing of Scalapay was the financial services industry’s top venture financing deal as total deals worth $3bn were announced globally in February 2022, according to GlobalData’s deals database.

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The value marked a decrease of 27.6% over the previous month of $4.2bn and a drop of 30% when compared with the last 12-month average, which stood at $4.34bn.

Comparing venture financing deals value in different regions of the globe, Europe held the top position, with total announced deals in the period worth $1.39bn. At the country level, the US topped the list in terms of deal value at $743.55m.

In terms of volumes, North America emerged as the top region for financial services industry venture financing deals globally, followed by Europe and then Asia-Pacific.

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The top country in terms of venture financing deals activity in February 2022 was the US with 36 deals, followed by the UK with 17 and India with nine.

In 2022, as of February, financial services venture financing deals worth $7.24bn were announced globally, marking a decrease of 10.6% year on year.

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

The top five financial services industry venture financing deals accounted for 41.1% of the overall value during February 2022.

The combined value of the top five financial services venture financing deals stood at $1.25bn, against the overall value of $3bn 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 $250m venture financing of Flutterwave by Alta Park Capital,Avenir Growth Capital,B Capital Group,Glynn Capital Management,Green Visor Capital ManagementLLC,Lux Capital,Salesforce Ventures,Tiger Global Management and Whale Rock Capital Management

3) Coinbase Ventures,Pantera Capital Management,Sequoia China Fund,Temasek Holdings (Private),Tiger Global Management and Tru Arrow Partners $200m venture financing deal with Amber Group

4) The $164.97m venture financing of Koho Financial by BDC Capital,Drive Capital,Eldridge Industries,HOOPP Capital Partners,Portage Ventures,Round 13 Capital and TTV Capital

5) Mubadala Capital,Third Point Ventures and Vista Credit Partners $140m venture financing deal with Pollen