Total financial services industry venture financing deals worth $938.8m were announced in North America in February 2022, led by $250m venture financing of Flutterwave, according to GlobalData’s deals database.

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The value marked a decrease of 43.4% over the previous month of $1.66bn and a drop of 52.6% when compared with the last 12-month average of $1.98bn.

North America held a 30.88% share of the global financial services industry venture financing deal value that totalled $3.04bn in February 2022. With a 24.46% share and deals worth $743.55m, the US was the top country in North America’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, North America recorded 40 deals during February 2022, marking a flat growth over the previous month and a drop of 27.27% over the 12-month average. The US recorded 36 deals during the month.

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North America financial services industry venture financing deals in February 2022: Top deals

The top five financial services industry venture financing deals accounted for 71.9% of the overall value during February 2022.

The combined value of the top five financial services venture financing deals stood at $674.97m, against the overall value of $938.8m recorded for the month.

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

1) Alta Park Capital,Avenir Growth Capital,B Capital Group,Glynn Capital Management,Green Visor Capital ManagementLLC,Lux Capital,Salesforce Ventures,Tiger Global Management and Whale Rock Capital Management $250m venture financing deal with Flutterwave

2) The $164.97m venture financing of Koho Financial by BDC Capital,Drive Capital,Eldridge Industries,HOOPP Capital Partners,Portage Ventures,Round 13 Capital and TTV Capital

3) Mubadala Capital,Third Point Ventures and Vista Credit Partners $140m venture financing deal with Pollen

4) The $60m venture financing of Aingel by Acuity Ventures,Age Fund,BECO Capital,Canas Capital,Circle Ventures,Coinbase Ventures,QED Investors,Rising Tide,SoftBank Latin America Fund and Third Prime Capital

5) Founders Fund,Lightspeed Management Company and Sequoia Capital Operations $60m venture financing deal with Found (US)