Venture financing in the financial sector surged in the third quarter, according to new numbers from GlobalData.

The U.K.-based firm reported that global venture financing activity came in at US$5.27 billion in the third quarter, up by 38.7% from the prior quarter, and topped the average for the past four quarters by 63%.

The U.S. led the way in terms of both deal value and volume, with US$2.98 billion across 128 deals.

Year-to-date, global venture financing stands at US$12.8 billion, down by 34.6% from the previous year.