New record for financing for fintechs in 2022

The French fintech sector raised 2,9 billion euros this year, nearly 30% more than in 2021. But investment flows dried up in the second half, heralding a more complicated year 2023 for financing. 

After a record year in 2021 in terms of fundraising, the fintech sector had yet another exceptional year in 2022, according to the annual report carried out by France Fintech. The amount raised increased by 28% to 2,9 billion euros, for 146 transactions. This represents an average ticket of 20 million euros.

Insurtech, banking services, operational financing activities were the most dynamic areas of activity, observes the association. Four new unicorns were born in 2022: Qonto, Payfit, Spendesk and Younited. In addition, according to France Fintech, a quarter of French companies in the sector declare themselves profitable.

Sharp slowdown in the 2nd half

The downside comes from the marked difference between the behavior of investors in the first and second half. In fact, 2,2 billion euros out of the 2,9 billion raised this year were raised during the first six months of the year, which is explained in particular by the absence of major American funds in the second part of the year. The economic crisis pushed funds to focus on their existing portfolio, and the market turned away from the late stage to prioritize the seed, with reduced tickets.

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