Led by $2.4bn venture financing of Robinhood Financial, total financial services industry venture financing deals worth $7.03bn were announced in North America in Q1 2021, according to GlobalData’s deals database.
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The value marked an increase of 288.4% over the previous quarter and a rise of 157.5% when compared with the last four-quarter average of $2.73bn.
North America held a 58.39% share of the global financial services industry venture financing deal value that totalled $12.04bn in Q1 2021. With a 57.31% share and deals worth $6.9bn, the US was the top country in North America’s venture financing deal value across financial services industry.
In terms of deal activity, North America recorded 155 deals during Q1 2021, marking an increase of 68.48% over the previous quarter and a rise of 45.20% over the last four-quarter average. The US recorded 144 deals during the month.
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By GlobalDataNorth America financial services industry venture financing deals in Q1 2021: Top deals
The top five venture financing deals accounted for 68.2% of the overall value during Q1 2021.
The combined value of the top five financial services venture financing deals stood at $4.8bn, against the overall value of $7.03bn recorded for the quarter.
The top five financial services deals of Q1 2021 tracked by GlobalData were:
1) Andreessen Horowitz, ICONIQ Capital, Index Ventures, New Enterprise Associates, Ribbit Capital and Sequoia Capital Operations’ $2.4bn venture financing of Robinhood Financial
2) The $1bn venture financing of Robinhood Financial by Ribbit Capital and Sequoia Capital Operations
3) Altimeter Capital Management’s $600m venture financing of Plaid
4) The $597.41m venture financing of Stripe by Allianz X, AXA, Baillie Gifford US Growth Trust, Fidelity Management & ResearchLLC, National Treasury Management Agency and Sequoia Capital
5) Citi Ventures, KKRInc and Sapphire Ventures’ venture financing of Feedzai for $200m.
