Total payments industry cross border deals worth $2.04bn were announced globally for January 2021, with the $450m venture financing of Checkout being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 79.6% over the previous month of $9.98bn and a drop of 10.5% when compared with the last 12-month average of $2.28bn.

In terms of number of cross border deals, the sector saw a rise of 27.78% with 23 deals in January 2021 when compared to the last 12-month average of 18 deals.

In value terms, Europe led the activity with cross border deals worth $1bn in January 2021.

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payments industry cross border deals in January 2021: Top deals

The top five cross border deals accounted for 79.8% of the overall value during January 2021.

The combined value of the top five cross border deals stood at $1.63bn, against the overall value of $2.04bn recorded for the month.

The top five payments industry cross border deals of January 2021 tracked by GlobalData were:

1) Blossom Capital, Coatue Management, DST Global, Endeavor Catalyst, GIC, Greenoaks Capital Management, Insight Partners and Tiger Global Management’s $450m venture financing of Checkout

2) The $400m venture financing of NU Pagamentos by Dragoneer Investment Group, GIC, Invesco, Kaszek Ventures, Ribbit Capital, Sequoia Capital Operations, Tencent Holdings and Whale Rock Capital Management

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

4) The $300m venture financing deal of CashDash by Avid Ventures, Coatue Management, Durable Capital Partners, Entree Capital, FJ Labs, General Catalyst Partners, Latitude Partners, Oak HC/FT Partners, Spark Capital, Tal Capital Group, Target Global and Tiger Global Management

5) Eurazeo Growth, Sprints Capital Management and Wellington ManagementLLP’s venture financing deal with PPRO Financial for $180m.