Total financial services industry venture financing deals worth $607.8m were announced in North America in September 2022, led by $315m venture financing of Pie Insurance Holdings, according to GlobalData’s deals database.

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The value marked an increase of 36.3% over the previous month of $446.08m and a drop of 52.1% when compared with the last 12-month average of $1.27bn.

North America held a 47.86% share of the global financial services industry venture financing deal value that totalled $1.27bn in September 2022. With a 46.05% share and deals worth $584.82m, the US was the top country in North America’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, North America recorded 30 deals during September 2022, marking a decrease of 21.05% over the previous month and a drop of 33.33% over the 12-month average. The US recorded 27 deals during the month.

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North America financial services industry venture financing deals in September 2022: Top deals

The top five financial services industry venture financing deals accounted for 75.4% of the overall value during September 2022.

The combined value of the top five financial services venture financing deals stood at $458m, against the overall value of $607.8m recorded for the month.

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

1) Acrew Capital, Allianz X, Centerbridge Partners, Gallatin Point Capital, Greycroft Growth and White Mountains Insurance Group’s $315m venture financing deal with Pie Insurance Holdings

2) The $60m venture financing of Mesh Payments by AlphaWave, Entree Capital, Meron Capital, Tiger Global and TLV Partners

3) Alumni Ventures Group, Companion Fund, Norwest Venture Partners, Struck Capital, SWS Venture Capital and TTV Capital’s $35m venture financing deal with Scratch Financial

4) The $30m venture financing of MAJORITY USA by Heartcore Capital and Valar Ventures Management

5) HCS Capital Partners, RGAx, Securian Financial Group, SiriusPoint and Westdale Properties’s $18m venture financing deal with PolicyMe