From capital markets to insurance and from digital banking to wealth management, fintechs continued to revolutionize the French financial world in 2021.
The financial services sector continues to attract technology companies that are transforming the way people and businesses spend, save, borrow, invest, and more.
For the fourth consecutive year, in partnership with Finance Innovation, Klein Blue unveils its study on fintech and innovation in the banking sector.
Our analysis is based on 1580 startups in the sector, distributed as follows
16% in payment, currency, transfer
16% in insurtech
6% in neobanks
The other sectors are represented in the graph opposite.
This study, carried out using our proprietary startup monitoring platform, presents the key figures for fintech in France in 2021:
445 new fintechs
€2.8 billion raised in 155 deals
Average ticket rising to €18M
The growth of the sector is notably driven by the French unicorns Qonto ($4.4B), Ledger ($1.5B), Alan ($1.4B), Shift Technology, Swile, Lydia and Spendesk.
The fundraisings are also proof that the sector is very dynamic.
The study also lists the major fintech transactions in 2021, divided into five categories, each illustrated with several examples:
Corporate buyouts, such as Climate Seed by AXA IM
Buyouts by fintechs, such as Tiller by Sumup
Fintech x corporate collaborations, such as Goodvest and Generali
Fintech x fintech collaborations including Shift and Monk
Klein Blue also analysed the fintech trends for 2021 and the outlook for 2022.
They are divided into 6 categories:
Payment, currency, transfer: the 2021 trend of Buy Now, Pay Later has attracted more than 15 French fintechs to this B2B2C market, like Alma.
Neobanking and PFM, as green neobanks have arrived on the market. In addition to the traditional banking offer, they propose new complementary eco-responsible services
Asset management and CIB: 100% online fintechs have taken advantage of the rise in savings, such as Yomoni, which in September 2021 passed the €500M mark in assets under management (X2 vs 2020)
Cross-functional financial services: the French VSE and SME ecosystem is growing dynamically every year
Insurtech, with a 230% increase in amounts raised compared to 2020
Blockchain and Fintech: collaborative actions or development of internal projects in large companies have seen a clear acceleration in 2021.
Finally, Klein interviewed three specialists in stock market integration to find out what happens to these nuggets after such impressive fundraising:
Discover the complete analysis in the publication Fintech Horizon 2022, produced in partnership with Finance Innovation !