The $510m venture financing of Varo Money was the financial services industry’s top venture financing deal as total deals worth $4.4bn were announced globally in September 2021, according to GlobalData’s deals database.

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The value marked a decrease of 34.8% over the previous month of $6.69bn and a rise of 13% when compared with the last 12-month average, which stood at $3.86bn.

Comparing venture financing deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $2.08bn. At the country level, the US topped the list in terms of deal value at $2.02bn.

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

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The top country in terms of venture financing deals activity in September 2021 was the US with 48 deals, followed by the India with ten and the UK with ten.

In 2021, as of September, financial services venture financing deals worth $43.86bn were announced globally, marking an increase of 212.9% year on year.

financial services industry venture financing deals in September 2021: Top deals

The top five financial services industry venture financing deals accounted for 33.4% of the overall value during September 2021.

The combined value of the top five financial services venture financing deals stood at $1.45bn, against the overall value of $4.4bn recorded for the month.

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

1) Berkshire Partners,BlackRock,Declaration Partners,Eldridge Industries,Gallatin Point Capital,HarbourVest Partners,Lone Pine Capital,Marshall Wace,The Rise Fund and Warburg Pincus $510m venture financing deal with Varo Money

2) The $288.33m venture financing of Bolt Financial by Hedosophia

3) Accel,Bessemer Venture Partners,Coatue Management,Corner Ventures,General Catalyst Partners,Latitude (UK),Thrive Capital and Tiger Global Management $250m venture financing deal with Melio Payments

4) The $205m venture financing of Coalition by Durable Capital Partners,T. Rowe Price Group and Whale Rock Capital Management

5) 1835i Ventures,DST Global,G Squared,Lone Pine Capital,Salesforce Ventures,Sequoia Capital China and Vetamer Capital Management $200m venture financing deal with Airwallex