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  1. Deals Analysis
April 27, 2021

Payments industry cross border venture financing deals total $473.61m globally in March 2021

By Carmen

The $170m venture financing of Flutterwave was the payments industry’s top cross border venture financing deal as total deals worth $473.61m were announced globally in March 2021, according to GlobalData’s deals database.

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The value marked an increase of 72.2% over the previous month of $275.12m and a rise of 48.2% when compared with the last 12-month average, which stood at $319.5m.

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 $274.7m. At the country level, the US topped the list in terms of deal value at $177.86m.

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

The top country in terms of cross border venture financing deals activity in March 2021 was the US with six deals, followed by the Canada with two and Mexico with two.

In 2021, as of March, payments cross border venture financing deals worth $2.61bn were announced globally, marking a decrease of 794.5% year on year.

payments industry cross border venture financing deals in March 2021: Top deals

The top five payments industry cross border venture financing deals accounted for 82.4% of the overall value during March 2021.

The combined value of the top five payments cross border venture financing deals stood at $390.04m, against the overall value of $473.61m recorded for the month.

The top five payments industry cross border venture financing deals of March 2021 tracked by GlobalData were:

1) 9Yards Capital, Avenir Growth Capital, DST Global, Early Capital, Green Visor Capital ManagementLLC, Greycroft Partners, Insight Partners, Salesforce Ventures, Tiger Global Management, Tiger Management and Worldpay’s $170m venture financing of Flutterwave

2) The $100m venture financing of Airwallex by ANZi Ventures, Greenoaks Capital Management, Grok Ventures and Skip Capital

3) Drive Capital, Portag3 Ventures and TTV Capital’ $70m venture financing of Koho Financial

4) The $30m venture financing of Xfers by PT Payfazz Teknologi Nusantara

5) Desjardins Group, Epic Ventures, goeasy, Impression Ventures and White Owl Capital Partners’ venture financing of Brim Financial for $20.04m.

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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