Total financial services industry venture financing deals worth $604m were announced in Europe in May 2022, led by $193.02m venture financing of Alan, according to GlobalData’s deals database.

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The value marked an increase of 66.04% over the previous month of $363.77m and a drop of 44.1% when compared with the last 12-month average of $1.08bn.

Europe held a 15.25% share of the global financial services industry venture financing deal value that totalled $3.96bn in May 2022. With a 4.90% share and deals worth $194.07m, France 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 May 2022, marking a decrease of 31.25% over the previous month and a drop of 24.14% over the 12-month average. The UK recorded ten deals during the month.

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

The top five financial services industry venture financing deals accounted for 79.3% of the overall value during May 2022.

The combined value of the top five financial services venture financing deals stood at $479.02m, against the overall value of $604m recorded for the month.

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

1) Coatue Management,Dragoneer Investment Group,EXOR,Index Ventures,Lakestar Advisors,Ontario Teachers’ Pension Plan,Ribbit Capital,Teachers Venture Growth (TVG) and Temasek Holdings (Private) $193.02m venture financing deal with Alan

2) The $108m venture financing of Modulr Finance by Blenheim Chalcot Management,Frog Capital,General Atlantic,Highland Europe (UK) and PayPal Ventures

3) RPMI Railpen $70m venture financing deal with Transfermate

4) The $65m venture financing of Kevin EU UAB by Accel,Amitabh Jhawar,Eurazeo,Global PayTech Ventures,Harry Stebbings,Ilkka Paananen,OpenOcean,OTB Ventures and SpeedInvest

5) Cherry Ventures,FinTech Collective and Valar Ventures Management $43m venture financing deal with Mondu