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  1. Deals Analysis
May 4, 2021

Payments industry venture financing deals total $1.26bn in Asia-Pacific in Q1 2021

By Carmen

Led by $300m venture financing of Grab Financial Group, total payments industry venture financing deals worth $1.26bn were announced in Asia-Pacific in Q1 2021, according to GlobalData’s deals database.

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The value marked an increase of 294.5% over the previous quarter and a rise of 297% when compared with the last four-quarter average of $317.42m.

Asia-Pacific held a 27.63% share of the global payments industry venture financing deal value that totalled $4.56bn in Q1 2021. With a 7.83% share and deals worth $357.1m, Singapore was the top country in Asia-Pacific’s venture financing deal value across payments industry.

In terms of deal activity, Asia-Pacific recorded 27 deals during Q1 2021, marking an increase of 8.00% over the previous quarter and a rise of 9.09% over the last four-quarter average. India recorded six deals during the month.

Asia-Pacific payments industry venture financing deals in Q1 2021: Top deals

The top five venture financing deals accounted for 62% of the overall value during Q1 2021.

The combined value of the top five payments venture financing deals stood at $782.51m, against the overall value of $1.26bn recorded for the quarter.

The top five payments deals of Q1 2021 tracked by GlobalData were:

1) Hanwha Asset Management’s $300m venture financing of Grab Financial Group

2) The $154.51m venture financing of Shanghai Meixin Health Technology by Ant Group, Fang Boyuan, Huaxing New Economy Fund, Innovation Works Development Fund, Northern Light Venture Capital, SAIF Investment Fund and Yuanyi Capital

3) JS Capital Management, Soros Capital Management, Tybourne Capital Management (HK) and Wellington ManagementLLP’s $120m venture financing of Paidy

4) The $108m venture financing of BharatPe by Amplo, Beenext, Coatue Management, Insight Partners, Ribbit Capital, Sequoia Capital and Steadview Capital

5) Affirma Capital, Goodwater Capital, Kora Management, Macquarie Capital (USA), Tybourne Capital Management (HK) and Warburg Pincus’ venture financing of M_Service for $100m.

Verdict deals analysis methodology

This analysis considers only announced and completed 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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