The $497m venture financing of Scalapay was the financial services industry’s top cross border venture financing deal as total deals worth $1.9bn were announced globally in February 2022, according to GlobalData’s deals database.

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The value marked a decrease of 20.7% over the previous month of $2.37bn and a drop of 35.8% when compared with the last 12-month average, which stood at $2.93bn.

Comparing cross border venture financing deals value in different regions of the globe, Europe held the top position, with total announced deals in the period worth $1.02bn. At the country level, the Italy topped the list in terms of deal value at $497m.

In terms of volumes, Europe emerged as the top region for financial services industry cross border venture financing deals globally, followed by North America and then Asia-Pacific.

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The top country in terms of cross border venture financing deals activity in February 2022 was the US with ten deals, followed by the UK with seven and Canada with three.

In 2022, as of February, financial services cross border venture financing deals worth $4.24bn were announced globally, marking a decrease of 27.7% year on year.

financial services industry cross border venture financing deals in February 2022: Top deals

The top five financial services industry cross border venture financing deals accounted for 60.4% of the overall value during February 2022.

The combined value of the top five financial services cross border venture financing deals stood at $1.13bn, against the overall value of $1.9bn recorded for the month.

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

1) Deimos Ventures,Fasanara Capital Credit Strategies Fund,Moore Capital Management,Rakesh Gangwal,Tencent Holdings,Tiger Global Management and Willoughby Capital Management $497m venture financing deal with Scalapay

2) The $200m venture financing of Amber Group by Coinbase Ventures,Pantera Capital Management,Sequoia China Fund,Temasek Holdings (Private),Tiger Global Management and Tru Arrow Partners

3) BDC Capital,Drive Capital,Eldridge Industries,HOOPP Capital Partners,Portage Ventures,Round 13 Capital and TTV Capital $164.97m venture financing deal with Koho Financial

4) The $140m venture financing of Pollen by Mubadala Capital,Third Point Ventures and Vista Credit Partners

5) Bpifrance Financement,Cathay Innovation ,Eurazeo,GR Capital,Picus Capital,Roosh Ventures,Seaya Ventures and Tencent Holdings $131.41m venture financing deal with Alma