Fintech fundraising grew by 18,5% in 2020
French fintechs managed to raise 828,2 million euros in 2020, despite a significant slowdown at the start of the crisis and while the European market has experienced a decline of 7% this year, according to France FinTech.
Young technology companies in finance and insurance raised 828,2 million euros in 2020, an increase of 18,5% compared to 2019, a study by the France Fintech association revealed on Tuesday.
This "good annual performance", according to the press release issued by the organization, is all the more remarkable since the European market has experienced a decline of 7% this year.
Almost identical number of operations
The number of operations remains almost identical to that of the previous year (63 against 64 in 2019) and the average ticket increased by 20,6% to 13,1 million euros.
These young finance and insurance technology companies, grouped under the term “fintech”, represented 15% of fundraising in the digital sector, compared to 13% in 2019.
According to France Fintech, "the year had started vigorously", before slowing down "significantly" with the health crisis and the first confinement.
If the deconfinement allowed a slight recovery, summer and autumn “were marked by the wait-and-see attitude”. What did not prevent the year from ending "as it had started, on a very positive trend", with a month of December almost as dynamic as that of January.
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