Total financial services industry venture financing deals worth $379m were announced in Europe in March 2022, led by $181.03m venture financing of ArK Kapital, according to GlobalData’s deals database.

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The value marked a decrease of 72.7% over the previous month of $1.39bn and a drop of 66.8% when compared with the last 12-month average of $1.14bn.

Europe held a 12.03% share of the global financial services industry venture financing deal value that totalled $3.15bn in March 2022. With a 6.40% share and deals worth $201.72m, Sweden was the top country in Europe’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, Europe recorded 22 deals during March 2022, marking a decrease of 45.00% over the previous month and a drop of 29.03% over the 12-month average. The UK recorded eight deals during the month.

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Europe financial services industry venture financing deals in March 2022: Top deals

The top five financial services industry venture financing deals accounted for 86.7% of the overall value during March 2022.

The combined value of the top five financial services venture financing deals stood at $328.71m, against the overall value of $379m recorded for the month.

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

1) Creandum Advisor,Hjalmar Winbladh,Ilkka Paananen,Jacob de Geer and LocalGlobe $181.03m venture financing deal with ArK Kapital

2) The $76.93m venture financing of Lunar Way by Heartland Financial USA,IDC Ventures,Kinnevik and Tencent Holdings

3) Alexander Kent Braham,LocalGlobe,Northzone Ventures,Oliver Kent-Braham,Rio Ferdinand,Seedcamp and Sharmadean Reid $26.26m venture financing deal with Yonder Technology

4) The $23.8m venture financing of Reach by Del Mondor,Doug Hunter and Rising Tide

5) Alfven & Didrikson,Insight Partners,Luminar Ventures,Neptunia Invest and Philian Invest $20.69m venture financing deal with The Great Collective