In a report by ‘Observatoire de la Fintech’ cited by BorntoInvest, the sector was found to have raised $700mn in funds.
In Brief:
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Some of the largest rounds came from Spendest, Wynd and Lunchr.
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Companies are said to have looked to grow internationally.
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Increasing numbers of international investors are investing in French funds.
What does this mean?
France is not often touted as a FinTech leader but the country has seen significant development this year, highlighted by international interest in startups. There have been a lot of mergers and acquisitions and, unsurprisingly, a key area for innovation has been the insurance sector.
