December 13, 2023 | News, Barometers, Press Releases

 Paris, December 13, 2023,

France FinTech, the professional association of French fintech, insurtech and regtech, publishes the annual report of its ecosystem. 

French fintechs have raised €939 million in 2023 (as of 13/12). France remains the largest market in the European Union.

The period records a sharp reduction in the involvement of large international investors. Innovation does not dry upas evidenced by the excellent priming performance. The drop observed in financing must be analyzed by taking into account the measures taken by entrepreneurs which led to a reduced need for equity capital. These actions made it possible to extend the duration of coverage of cash flow needs.

Fintechs have also made greater use of debt, the offering of which for start-ups is now broader. In total, despite this strong contraction in lifts, the ecosystem has, overall, held up well.

Given the very difficult environment, it has in fact recorded few failures and business stoppages. It is true that mergers and acquisitions have offered players in tension a backing option and leaders an opportunity for consolidation at a reasonable price.

But above all fundamentals remain good : the digitalization of financial services continues and the demand for innovative offers is strong. Turnovers continue to grow and monetization is accelerating. This explains why recruitment seems to be on the rise again in the last quarter.

The analysis of 2023 activity by sector reveals some interesting developments.

  • Business services represent the most funded vertical this year with nearly 40% of funds and ¼ of transactions. Accounting services continue to grow. Employee services are increasingly used by HR departments with a view to building loyalty.
  • Payment solutions and banking services, historical compartments of fintech, always give rise to significant developments and innovations.
  • Concerning payment practices, the arrival of DSP3/PSR regulations will have a strong impact on the activities of fintech (Open Banking).
  • Insurtech continues to develop.
  • Asset management fintechs have expanded their range for individuals.
  • Fintechs offering financing services: crowdfunding players are targeting Europe, the Revenue Based Finance model is being deployed, credit analysis capacity providers are developing their cooperation.
Beyond the sectoral analysis, 4 major trends characterize the period: 
  • The growing involvement of fintech in the impact.
  • The growing use of technology: artificial intelligence and tokenization.
  • Cooperation between fintech and large groups, which has been, from the outset, a marker of the French ecosystem, is not weakening.
  • The growing social role of fintech, in a period marked by the return of inflation and pressure on purchasing power.


The tensions currently observed on the markets are not expected to dissipate for several quarters at least, but the overall level of activity should remain sustained and we should be able to observe an acceleration in recruitment and internationalization.
Sectoral consolidation should also continue around the leaders of each vertical, with a level of intra-sector M&A still sustained.

Finally, it will be necessary to continue to monitor the major regulatory movements underway because these will have a major impact on the structuring of the sector.

For Alain Clot, President of France FinTech:

“French fintechs have, once again this year, shown their resilience, in particularly uncertain market conditions and economic environments. Even if fundraising is down sharply, as everywhere in the world, fintechs have been able to take all useful measures to continue the development of their activity and their profitability. Their market is consolidating while maintaining good momentum in terms of innovation and the creation of new uses. They are ready to face the coming year in the best possible conditions.”


France FinTech is today the largest sectoral association of start-ups in France and Europe. It is chaired by Alain Clot and Kristen Charvin is its general delegate. Its steering committee brings together the founders and managers of +Simple, AML Factory, Anaxago, Eldorado, Epsor, Kriptown, Lydia, October, Silae. In addition to its actions in the regulatory and legislative fields, its numerous publications, its workshops and various meetings, the association organizes each year the benchmark event for the ecosystem, FinTech R: Evolution.

France FinTech is a member of the AMF-ACPR Fintech Forum and a founding member of theEDFA (European Digital Finance Association).

Follow us on twitter @FranceFintech and on LinkedIn France FinTech.

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