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  1. Deals Analysis
April 27, 2021

US payments industry sees a rise of 61.54% in deal activity in March 2021

By Carmen

US payments industry saw a rise of 61.54% in overall deal activity during March 2021, when compared with the last 12-month average, led by Allianz X, AXA, Baillie Gifford US Growth Trust, Fidelity Management & ResearchLLC, National Treasury Management Agency and Sequoia Capital’s $597.41m venture financing of Stripe, according to GlobalData’s deals database.

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A total of 21 deals worth $1.81bn were announced in March 2021, compared with the 12-month average of 13 deals.

venture financing was the leading category in the month in terms of volume with 14 deals, which accounted for 66.7% of all deals.

In second place was M&A with five deals, followed by private equity with two transactions, respectively accounting for 23.8% and 9.5% of overall deal activity in the US technology industry during the month.

In terms of value of deals, venture financing was the leading deal category in the US payments industry with total deals worth $896.71m, while M&A and private equity deals totalled $760.64m and $152.3m respectively.

US payments industry deals in March 2021: Top deals

The top five payments industry deals accounted for 92.7% of the overall value during March 2021.

The combined value of the top five payments deals stood at $1.68bn, against the overall value of $1.81bn recorded for the month.

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

1) Allianz X, AXA, Baillie Gifford US Growth Trust, Fidelity Management & ResearchLLC, National Treasury Management Agency and Sequoia Capital’s $597.41m venture financing of Stripe

2) The $595m merger of Cipher Mining Technologies and Good Works Acquisition

3) 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

4) The $165.57m acquisition deal with BankCard USA Merchant Services by Quisitive Technology Solutions

5) Great Hill Partners’ private equity with Jumio for $150m.

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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