Led by $900m venture financing of Trade Republic Bank, total financial services industry venture financing deals worth $5.5bn were announced in Europe in Q2 2021, according to GlobalData’s deals database.

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The value marked an increase of 135.2% over the previous quarter and a rise of 412.2% when compared with the last four-quarter average of $1.07bn.

Europe held a 35.52% share of the global financial services industry venture financing deal value that totalled $15.43bn in Q2 2021. With a 10.82% share and deals worth $1.67bn, Germany was the top country in Europe’s venture financing deal value across financial services industry.

In terms of deal activity, Europe recorded 94 deals during Q2 2021, marking a flat growth over the previous quarter and a rise of 30.10% over the last four-quarter average. The UK recorded 32 deals during the month.

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Europe financial services industry venture financing deals in Q2 2021: Top deals

The top five venture financing deals accounted for 60.9% of the overall value during Q2 2021.

The combined value of the top five financial services venture financing deals stood at $3.34bn, against the overall value of $5.5bn recorded for the quarter.

The top five financial services deals of Q2 2021 tracked by GlobalData were:

1) Accel, Creandum Advisor, Founders Fund, Project A Services GmbHKG, Sequoia Capital Operations, TCMI and Thrive Capital Partners’ $900m venture financing of Trade Republic Bank

2) The $800m venture financing of Mollie by Alkeon Capital, Blackstone Growth, EQT Growth, General Atlantic, HMI Capital and TCV

3) SGEIC, Alma Mundi Ventures, CreditEase Fintech Investment Fund, Eurazeo, FinTLV Ventures, GR Capital, Gsquared Medical, Horizons Ventures, Jupiter Asset Management, LGT Impact Ventures, Merian Global Investors, Mountain Capital Management, Mubadala Investment, OMERS Ventures, Partners Group, Salesforce Ventures, Seedcamp, Sound Ventures, SpeedInvest, Target Global and Victory Park Capital Advisors’ $650m venture financing of FinanceFox Germany

4) The $639m venture financing of Klarna Bank by Adit Ventures, Honeycomb Asset Management, SoftBank Vision Fund two and Westcap Group

5) CommerzVentures, EQT Growth, FTV Capital, Munich Re Ventures, Octopus Ventures and Willoughby Capital Management’s venture financing of Bought By Many for $350m.