Total financial services industry venture financing deals worth $5.5bn were announced globally in Q3 2022, led by $800m venture financing of Klarna Bank, according to GlobalData’s deals database.

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The value marked a decrease of 36.8% over the previous quarter and a drop of 51.2% when compared with the last four-quarter average, which stood at $11.31bn.

Comparing deals value in different regions of the globe, Europe held the top position, with total announced deals worth $2.03bn in the period. At the country level, the US topped the list in terms of deal value at $1.29bn.

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

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The top country in terms of venture financing deals activity in Q3 2022 was the US with 100 deals, followed by India with 29 and the UK with 27.

In 2022, at the end of , venture financing deals worth $5.5bn were announced globally in financial services industry, marking a decrease of 39.2% year on year.

venture financing deals in financial services industry in Q3 2022: Top deals

The top five venture financing deals in financial services industry accounted for 36.1% of the overall value during Q3 2022.

The combined value of the top five venture financing deals stood at $1.99bn, against the overall value of $5.5bn recorded for the quarter.

The top five financial services industry venture financing deals of Q3 2022 tracked by GlobalData were:

1) Bestseller, Canada Pension Plan Investment Board, Commonwealth Bank of Australia, Mubadala Investment, Sequoia Capital Operations and Silver Lake Partners’s $800m venture financing deal with Klarna Bank

2) The $400m venture financing of FinanceFox Germany by EDBI, Eurazeo, Horizons Ventures, LGT Impact Ventures, Mubadala Investment, OMERS Ventures and Target Global

3) 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

4) The $250m venture financing of PT Espay Debit Indonesia Koe by Lazada Group and Sinar Mas

5) Altos Ventures, DAOL Investment, Goodwater Gap Partners, Greyhound Capital Europe, KDB Development Bank, Kwangju Bank and Mirae Asset Securities’s $228m venture financing deal with Viva Republica