French fintech: the engine of growth is running at full speed
The development of the sector of young French finance companies, fintech, has significantly accelerated in 2021. We can see an increase in fundraising and recruitments. The cumulative funds collected in France reached 2,3 billion euros in 2021. This is almost 3 times (174%) the amount for 2020. This concerns 93 financing operations.
Seven fundraising events exceeded 150 million euros in 2021
This is shown by the annual barometer of France FinTech, the professional association of French fintech, insurance and regtech, in partnership with Bpifrance, the public investment bank. Financing transactions reach significant amounts. There were 7 fundraising events of more than 150 million euros in 2021. Ledger stands out with its raising of 312 million euros in June 2021. Ledger was created in 2015 and paradoxically finds success by marketing physical USB drives while the world is dematerialized. Ledger sells this hardware equipment as consumer goods to protect cryptocurrencies or encryption keys.
The objective of these fundraising is above all recruitments for France FinTech. The study shows hiring intentions of 10 employees, excluding foreigners, ie a workforce expected at the end of 000 of nearly 2022 jobs in French fintech, compared to the current 40 jobs. As for the other fundraising objectives, they concern the development of young companies internationally and technology such as artificial intelligence and blockchain.
Fintech turnover experienced very sustained growth in 2021 according to France FinTech, with particularly high-tech sectors such as payments, insurance, crypto, financing and services to VSEs and SMEs. In addition, the creation of fintechs continued in France with 150 new startups in 2021, in the sectors of insurance, financing, micro-savings and impact finance.
