2,27 billion euros in 2021: French fintechs have never raised so much money
Swile, Alan, Lydia… French finance and insurance startups are attracting investors more than ever, reports the France Fintech association.
Early December, Lydia, money transfer app (among others), closed fintech unicorn ball made in France by pocketing 103 million dollars. In 2021, finance and insurance technology particularly attracted investors. The last digits of the France Fintech professional association show that startups in the sector have raised 2,273 billion euros. It is an increase of 174% compared to 2020. This amount represents nearly a quarter of the amounts raised by all French startups in 2021 (10 billion euros). Never has fintech attracted so many funds.
This sum, which totals 93 operations, was fueled by numerous record fundraising events such as that of benefit cards Swile employees (175 million euros), from crypto specialist Ledger (312 million euros), and insurers Alan (185 million euros) and Shift Technology (183 million euros). But also by first fundraising for new startups like Sunday, a QR code payment solution.
It is mainly foreign funds that are putting their hands in the pocket for this type of startup, in particular the Japanese Softbank, and American funds like Coatue. French companies have also benefited from Brexit and the redirection of some capital to France, even if the United Kingdom remains the best-off country in terms of fintech financing, ahead of Germany and France.