Fintech Revolution, the ever-conquering French fintech
Stronger, all together! The annual day organized by France Fintech was held on October 19 at the Maison de la Mutualité under the title “Riders on the storm”. Faced with a difficult situation, particularly in terms of finding financing, French fintechs are holding up against the storm.
Alain Clot, president of the association, gave some figures to support this observation: the fintech panorama reaches 950 players, compared to 900 last year. Half of them achieve a turnover of more than one million euros, compared to 36% in 2022. More than a third have reached the profitability threshold. Around 30% are already established internationally. They continue to recruit, so much so that the number of jobs created has now reached 50.000. And the consolidation of the sector is well underway with 56% of merger operations carried out between fintechs, the French being more buyers outside borders than the reverse. And thanks to the European passport, they are backed by the largest market in the world, Europe, or 450 million consumers, recalled Alain Clot. Bpifrance and France Fintech have also published the fintech panorama 2023 which illustrates the richness of the French landscape.