The $170m venture financing of Flutterwave was the financial services industry’s top cross border venture financing deal as total deals worth $1.18bn were announced globally in March 2021, according to GlobalData’s deals database.

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The value marked a decrease of 61.4% over the previous month of $3.06bn and a rise of 37.7% when compared with the last 12-month average, which stood at $857.16m.

Comparing cross border venture financing deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $458.5m. At the country level, the US topped the list in terms of deal value at $361.66m.

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 March 2021 was the US with 13 deals, followed by the UK with seven and Mexico with two.

In 2021, as of March, financial services cross border venture financing deals worth $6.35bn were announced globally, marking a decrease of 665.4% year on year.

financial services industry cross border venture financing deals in March 2021: Top deals

The top five financial services industry cross border venture financing deals accounted for 60.1% of the overall value during March 2021.

The combined value of the top five financial services cross border venture financing deals stood at $708m, against the overall value of $1.18bn recorded for the month.

The top five financial services industry cross border venture financing deals of March 2021 tracked by GlobalData were:

1) 9Yards Capital, Avenir Growth Capital, DST Global, Early Capital, Green Visor Capital ManagementLLC, Greycroft Partners, Insight Partners, Salesforce Ventures, Tiger Global Management, Tiger Management and Worldpay’s $170m venture financing of Flutterwave

2) The $170m venture financing of Bitpanda by DST Global and Valar Ventures Management

3) Balderton Capital, DST Global, General Catalyst Partners, Latitude Investment Management and Taavet Hinrikus’ $150m venture financing of Extracover

4) The $118m venture financing of Pie Insurance Holdings by Acrew Capital, Allianz X, Elefund, Greycroft Partners, Moxley Holdings, SiriusPoint and SVB Capital

5) ANZi Ventures, Greenoaks Capital Management, Grok Ventures and Skip Capital’s venture financing of Airwallex for $100m.