Press Release

France FinTech and Bpifrance publish the

2024 PANORAMA OF FRENCH FINTECH 

on the occasion of FINTECH R:EVOLUTION #FFT24

For the eighth consecutive year, France FinTech, the representative association of the sector, presents the Panorama of French Fintech , a reference document produced with the support of Bpifrance and published on the occasion of FinTech R:Evolution, the flagship event of the ecosystem.

ACCESS THE PANORAMA OF FRENCH FINTECH 2024 (HD)

The Panorama lists 1,145 French fintech companies at different stages of maturity (young shoots, start-ups, scale-ups, unicorns and centaurs).

They cover all verticals of innovative financial services: banking, insurance, risk, payments, asset management, financing tools and services, compliance, accounting, treasury, HR, etc. These are referenced using a nomenclature organized into 8 categories and 23 subcategories, in order to better reflect the diversity of activities, professions, clienteles and fields of application.

The ecosystem continues to expand (+20% in 2024), while 18 public difficulties (safeguard proceedings, receivership, business closures) and 38 mergers or acquisitions have been identified since the beginning of the year. The vertical that has seen the strongest growth is risk management, where the number of players has almost doubled.

Nearly a quarter of fintech players come from the regions, with a predominance from the Auvergne-Rhône-Alpes region.

French fintechs have created nearly 50 skilled jobs: data and AI specialists, developers, cybersecurity engineers, compliance experts, salespeople, etc.

Activity update

The French fintech ecosystem is doing rather well.

It faced a sharp contraction in its venture capital funding in 2022-2023, similar to the global tech sector, caused by the consequences of the pandemic, rising interest rates, and the overall geopolitical context. This situation led our companies to implement measures to streamline operations, refocus on their core business, and diversify their funding sources.

From this perspective, 2024 appears to be showing signs of recovery, which will need to be confirmed. To date, funding rounds have exceeded one billion euros, surpassing the total for the entire year of 2023, with the average deal size doubling (to €15 million). This reflects the growing share of mature rounds (Series A to F). Insurtech is a major contributor, notably with Alan and Akur8, which have raised €173 million and €108 million respectively.

The analysis of the origin of funds reveals increased activity in the following segments:

• business angels,
• international funds, and in particular American ones, which account for one in five investors, almost doubling their share in one year,
• majority funds (12 transactions, or 3% to 7% of the total),
• family offices (from 7% to 9%). 

Finally, we are seeing a strong increase in recourse to debt (banking or via specialized funds).

These resources empower our startups to relaunch their investments, particularly in technological and international development. The year is marked by a trend toward consolidation. More than a third of mergers and acquisitions are within the same sector.

Although consolidated data is lacking, the overall level of activity appears good and monetization is on track. A third of fintechs have reached the break-even point (vs. 30% in 2023).

View the web panorama

These topics and many others will be discussed on Thursday, October 17, during the 9th edition of FinTech R:Evolution.

To go further, see:

• Our barometers 
• Half-yearly review of French fintechs, June 2024

More about us : 

FRANCE FINTECH
Created in 2015 on the initiative of entrepreneurs, France FinTech brings together companies using innovative and disruptive operational, technological or economic models, aimed at addressing existing or emerging issues in the financial services industry and representing the main components of the sector. The association's mission is to promote excellence in the sector in France and abroad and to represent French fintech to public authorities, the regulator and the ecosystem.

France FinTech is today the largest sector-specific association of startups in France and Europe. It is chaired by Alain Clot, with Kristen Charvin as its executive director. Its board of directors includes the founders and managers of +Simple, AML Factory, Anaxago, Defacto, Epsor, Kriptown, Lydia, Pennylane, October, Rosaly, and Virgil. Following the integration of the "Insurtech France" and "Crowdfunding France" associations, the association now includes the Insurtech and Crowdfunding Colleges.

In addition to its actions in the regulatory and legislative fields, its numerous publications, workshops and various meetings, the association organizes the benchmark event of the ecosystem, FinTech R:Evolution , every year.

France FinTech is co-organizer of French FinTech Week , member of the ACPR-AMF Fintech Committee and founding member of the EDFA (European Digital Finance Association).

FINTECH R: EVOLUTION 

FinTech R:Evolution has become the leading annual event for innovative finance , thanks to its selection of strategic themes and top-tier speakers across all sectors. The event also distinguishes itself through its emphasis on debate and its open, informal atmosphere. Featuring numerous conferences, discussions, and debates led by renowned speakers, this day will offer the 2000 expected participants a comprehensive overview of the major challenges facing the sector. More than 350 fintech, insurtech, and regtech companies will share their experiences, innovations, vision, and analysis . A true immersion into the heart of the ecosystem's issues, it will provide an opportunity to reflect on the evolution of our economic and societal environment, technologies, uses, and professions.

FRENCH FINTECH WEEK

FinTech R:Evolution will once again be held this year as part of FRENCH FINTECH WEEK , organised jointly by ACPR, AMF, Paris&co and France FinTech, and will take place from 8 to 18 October 2024.

Contacts :

Kristen charvin

General Delegate  

Alain Clot

President

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About Bpifrance: 

Bpifrance finances and supports companies – at each stage of their development – ​​with credit, guarantees, support for innovation and equity. In doing so, Bpifrance acts in support of public policies conducted by the State and the Regions. Bpifrance supports them in their development, ecological and energy transition, innovation and international projects. Bpifrance also provides export financing in the name and on behalf of the State.

Bpifrance offers, in conjunction with recognized consulting firms and training organizations, support solutions adapted to start-ups, VSEs, SMEs and mid-sized companies. Thanks to its 50 regional locations, entrepreneurs benefit from a close and efficient contact to support them in the sustainable growth of their activity.

More information at: www.bpifrance.fr

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