North America’s payments industry saw a drop of 2.9% in overall deal activity during Q3 2019, when compared to the four-quarter average, according to GlobalData’s deals database.

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A total of 33 deals worth $882.98m were announced for the region during Q3 2019, against the last four-quarter average of 34 deals.

Of all the deal types, venture financing saw most activity in Q3 2019 with 21, representing a 63.6% share for the region.

In second place was M&A with 11 deals, followed by private equity deals with one transactions, respectively capturing a 33.3% and 3.03% share of the overall deal activity for the quarter.

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In terms of value of deals, venture financing was the leading category in North America’s payments industry with $578.64m, while M&A and private equity deals totalled $270.04m and $34.3m, respectively.

North America payments industry deals in Q3 2019: Top deals

The top five payments deals accounted for 75.8% of the overall value during Q3 2019.

The combined value of the top five payments deals stood at $669m, against the overall value of $882.98m recorded for the quarter.

The top five payments industry deals of Q3 2019 tracked by GlobalData were:

1) Invus Opportunities, LL Funds, Oaktree Capital Management and QED Investors’ $200m venture financing of Mission Lane

2) The $190m acquisition of Health Credit Services by Ally Financial

3) PayU Argentina, DN Capital (UK), Generation Investment Management, Owl Rock Capital Partners, Princeville Global, Prudential Financial, Schroder & Co Bank, Stripes Group and Top Tier Capital Partners’ $135m venture financing of Remitly

4) The $76m venture financing of Tipalti Solutions by 01 Advisors 01, Greenspring Associates (UK), Group 11 and Zeev Ventures

5) Activant Capital Group, Benny Joseph, Brett Jackson, Dave Heath, Evan DiMeglio, Jon Tam, Kelly Cooper, Kevin Han, Kevin Weinman, Melissa Mash, Paul Zaengle and Tribe Capital’s venture financing of Bolt Financial for $68m.

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.