The fintech sector in a good position in the French Tech 120 and the Next 40
The new list of companies making up the French Tech 120 and Next 40 was revealed by Bruno Le Maire, Minister of the Economy, Finance and Recovery, Cédric O, Secretary of State for Digital Transition and Electronic Communications and Kat Borlongan, Director of the French Tech Mission.
Le French Tech Next40 / 120 offers support designed to the scale-up French women with the capacity to become world-class technological leaders. While the selection criteria remain the same as those used in 2020, the thresholds in turnover and fundraising to access these indices were noted, confirming the acceleration of the French start-up ecosystem(1).
The 2021 ranking once again incorporates many fintech / assurtech : 19 companies were selected. The sector represents nearly 16% of FT120 (+1,6 points compared to last year(2)) and 22,5% of the Next 40 (+2,5 points).
It is now the first category of the Next 40.
- lemonway, Ledger, Ornikar, Papernest, Swile et Spendesk remain in the FT120 et Best rate, Sould, Luko, Kovers make their entrance.
- Lydia et Qonto integrate the Next 40, joining Ivalua, Alan, October, Payfit, Wynd, Younited Credit et Shift Technology.
This announcement confirms the innovative capacity of fintechs and the trend already illustrated by several indicators:
- The amount fundraising achieved in 2020, up 18,5%, testifying to the resilience of fintech. Fact, the first weeks of 2021 show a promising start to the year with 180,6 million euros already raised in 16 operations (3).
- The number of jobs already created by the sector, current recruitments and future job creations to meet growth and internationalization objectives.
- Intensification of partnership agreements (4)
- The emergence of champions by vertical, the internationalization of players, their platformization and their evolution towards “super app” models.
1. Note that in 2020 France became the 1er European Union tech ecosystem. source: La French Tech / EY Barometer
2. Source: France FinTech - French Tech 120: the fintech family in a good place
3. Source: France FinTech barometers
4. Almost 1000 relationships identified. Source: The fintech galaxy - Le Journal du Net