The $750m venture financing of Chime Financial was the financial services industry’s top venture financing deal as total deals worth $5.3bn were announced globally in August 2021, according to GlobalData’s deals database.

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The value marked an increase of 22.3% over the previous month of $4.35bn and a rise of 53.8% when compared with the last 12-month average, which stood at $3.46bn.

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 $2.34bn. At the country level, the US topped the list in terms of deal value at $2.34bn.

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 August 2021 was the US with 42 deals, followed by the UK with ten and India with ten.

In 2021, as of August, financial services venture financing deals worth $38.89bn were announced globally, marking an increase of 257.9% year on year.

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

The top five financial services industry venture financing deals accounted for 42.8% of the overall value during August 2021.

The combined value of the top five financial services venture financing deals stood at $2.27bn, against the overall value of $5.3bn 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) 3W Capital,Longzhu Capital ,Meituan Dianping,Redpoint China Ventures.,Sequoia Capital China,SoftBank Ventures Asia,SoftBank Vision Fund II and Source Code Capital $400m venture financing deal with OPay Digital Services

4) The $370m venture financing of BharatPe by Amplo,Coatue Management,Dragoneer Investment Group,Insight Partners,Ribbit Capital,Sequoia Capital India,Steadfast Capital and Tiger Global Management

5) Boyu Capital Consultancy,China International Capital and Eli Lilly Asia Fund (LAV) $304.7m venture financing deal with Shanghai Meixin Health Technology