The $315m venture financing of Pie Insurance Holdings was the financial services industry’s top cross border venture financing deal as total deals worth $769.4m were announced globally in September 2022, according to GlobalData’s deals database.

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The value marked an increase of 7% over the previous month of $719.32m and a drop of 63.01% when compared with the last 12-month average, which stood at $2.08bn.

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 $428m. At the country level, the US topped the list in terms of deal value at $405m.

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

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

In 2022, as of September, financial services cross border venture financing deals worth $17.23bn were announced globally, marking a decrease of 42.4% year on year.

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

The top five financial services industry cross border venture financing deals accounted for 79.2% of the overall value during September 2022.

The combined value of the top five financial services cross border venture financing deals stood at $609m, against the overall value of $769.4m recorded for the month.

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

1) Acrew Capital, Allianz X, Centerbridge Partners, Gallatin Point Capital, Greycroft Growth and White Mountains Insurance Group’s $315m venture financing deal with Pie Insurance Holdings

2) The $126m venture financing of Carrot General Insurance by Affirma Capital, Altos Ventures, Hanwha Group and STIC Investments

3) AlphaWave, Entree Capital, Meron Capital, Tiger Global and TLV Partners’s $60m venture financing deal with Mesh Payments

4) The $58m venture financing of DotPe by Info Edge Ventures, Naya Capital Management, PayU and Temasek Holdings (Private)

5) Coatue Management, GFC Global Founders Capital and Valar Ventures’s $50m venture financing deal with Portofino Technologies