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  1. Deals Analysis
October 7, 2022

Asia-Pacific’s payments industry saw a drop of 17.24% in cross border deal activity in Q2 2022

By Carmen

Led by $690m private equity deal with Coda Payments, Asia-Pacific’s payments industry saw a drop of 17.24% in cross border deal activity during Q2 2022, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 30 cross border deals worth $2.1bn were announced for the region during Q2 2022, against the last four-quarter average of 36.25 deals.

Of all the deal types, venture financing saw most activity in Q2 2022 with 24 deals, representing an 80% share for the region.

In second place was M&A with four deals, followed by private equity deals with two transactions, respectively capturing a 13.3% and 6.7% share of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, venture financing was the leading category in Asia-Pacific’s payments industry with $1.17bn, while private equity and M&A deals totalled $690m and $200m, respectively.

Asia-Pacific payments industry cross border deals in Q2 2022: Top deals

The top five payments cross border deals accounted for a 74.6% share of the overall value during Q2 2022.

The combined value of the top five cross border deals stood at $1.54bn, against the overall value of $2.1bn recorded for the quarter.

1) GIC,Insight Venture Management and Smash Capital $690m private equity deal with Coda Payments

2) The $300m venture financing of Xendit by Accel,Amasia,Coatue,EV Growth ,Goat Capital,Insight Partners,Intudo Ventures,Kleiner Perkins and Tiger Global Management

3) EDBI,First Pacific,IFC Emerging Asia Fund,IFC Financial Institutions Growth Fund,International Finance Corporation(US),KKRInc,PLDT,SIG Venture Capital and Tencent Holdings $210m venture financing deal with Voyager Innovations

4) The $200m acquisition of Coins.ph by Wei Zhou

5) Alpha Wave Ventures,Dragoneer Investment Group,Falcon Edge Capital,Lathe Investments,Sofina Ventures and Tiger Global Management $140m venture financing deal with Dreamplug Technologies

Verdict deals analysis methodology

This analysis considers only announced and completed cross border deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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