Fintechs, a first quarter of 2023 showing a cumulative amount of 302 million euros raised
They are called Bravo KillBills, Ledger, Koala, Carbonable, Roundtable, YMO, Respaid, N2F, Elyn and SESAMm, and raised a cumulative €177m last month.
With the unicorn in mind Ledger which alone benefits from a funding round of 100 million euros.
According to the France Fintech/Bpifrance barometer, this first quarter of 2023 therefore recorded a cumulative amount of €302 million in 33 transactions compared to a quarterly average of €731 million in 2022 and €568 million in 2021. The main sectors concerned are functional services (32%) and crypto following in particular Ledger's fundraising of €100 million.
According to these two players, this low water level is obviously the result of a wait-and-see attitude on the part of investors due to the international macroeconomic situation and a lower need for financing due to the reduction, by a number of start-ups, of recurring costs and the postponement of certain investment projects (particularly international ones) in this climate of uncertainty. The slowdown observed in France is in line with that of the main European markets. The rounds have involved, for 3 quarters, mainly investors from previous rounds. Note the good performance of seed operations (3/4 of operations and more than 1/3 of the amounts raised), mobilizing in particular a high number of Business Angels (39% of the raisings include at least one BA) and recourse more debt-backed.