The Lazada Group and Sinar Mas $250m venture financing deal with PT Espay Debit Indonesia Koe was the financial services industry’s top cross border venture financing deal as total deals worth $722.7m were announced globally in August 2022, according to GlobalData’s deals database.

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The value marked a decrease of 43.5% over the previous month of $1.28bn and a drop of 67.5% when compared with the last 12-month average, which stood at $2.22bn.

Comparing cross border venture financing deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $468.8m. At the country level, the Indonesia topped the list in terms of deal value at $250m.

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

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The top country in terms of cross border venture financing deals activity in August 2022 was the India with six deals, followed by the US with five and the UK with three.

In 2022, as of August, financial services cross border venture financing deals worth $15.46bn were announced globally, marking a decrease of 42.4% year on year.

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

The top five financial services industry cross border venture financing deals accounted for 72.6% of the overall value during August 2022.

The combined value of the top five financial services cross border venture financing deals stood at $525m, against the overall value of $722.7m recorded for the month.

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

1) Lazada Group and Sinar Mas $250m venture financing deal with PT Espay Debit Indonesia Koe

2) The $110m venture financing of Early SalaryLtd. by Norwest Venture Partners, Piramal Capital and Housing Finance and The Rise Fund

3) Checkout, Coatue Management, Endeavor Catalyst, Sanabil Investments and Shorooq Partners $100m venture financing deal with Nakhla IT Systems

4) The $40m venture financing of Injective Labs by BH Digital, Eric Chen and Jump Crypto

5) Endeavor ScaleUp Ventures, Entree Capital, Founder Collective, Janeiro Energy, OIF Ventures and Salesforce Ventures $25m venture financing deal with Pagaleve Tecnologia Financeira