In a report by ‘Observatoire de la Fintech’ cited by BorntoInvest, the sector was found to have raised $700mn in funds.
Some of the largest rounds came from Spendest, Wynd and Lunchr.
Companies are said to have looked to grow internationally.
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.