Total financial services industry venture financing deals worth $492.3m were announced in Asia-Pacific in August 2022, led by $250m venture financing of PT Espay Debit Indonesia Koe, according to GlobalData’s deals database.

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The value marked a decrease of 39.1% over the previous month of $808.5m and a drop of 44.6% when compared with the last 12-month average of $888.41m.

Asia-Pacific held a 38.16% share of the global financial services industry venture financing deal value that totalled $1.29bn in August 2022. With a 19.38% share and deals worth $250m, Indonesia was the top country in Asia-Pacific’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, Asia-Pacific recorded 22 deals during August 2022, marking a decrease of 8.33% over the previous month and a drop of 26.67% over the 12-month average. India recorded eight deals during the month.

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Asia-Pacific financial services industry venture financing deals in August 2022: Top deals

The top five financial services industry venture financing deals accounted for 84.6% of the overall value during August 2022.

The combined value of the top five financial services venture financing deals stood at $416.7m, against the overall value of $492.3m recorded for the month.

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

1) Lazada Group and Sinar Mas $250m venture financing deal with PT Espay Debit Indonesia Koe

2) The $110m venture financing of Early SalaryLtd. by Norwest Venture Partners, Piramal Capital and Housing Finance and The Rise Fund

3) Accel, Elevation Capital, GTM Ventures, Matrix Partners India and Whiteboard Capital $20.7m venture financing deal with Dezerv Investments

4) The $19m venture financing of Chocolate Finance by ChocVen, Credit Saison, Dara Holdings, GFC Global Founders Capital, Ion Pacific, Orion Advisors, Prosus Ventures and Sequoia Capital India

5) QCM Holdings and Temasek Holdings $17m venture financing deal with epiFi Technologies