23 Sep France – One of the hottest FinTech Hub in Europe
France is now the third hottest FinTech hub in Europe for investments and it’s not stopping there.
According to Sifted, an online tech news media, France is now one of the top 3 investment destinations for FinTech in Europe based on new data. This is the the first time that France has performed better than Sweden, moving Sweden to fourth place as of now.
FinTechs in France has raised 1.9 Bil Euros till now in 2021, sitting behind UK and Germany – This amount is more than twice of the amount France had attracted in 2020, according to Dealroom.
This milestone comes after the ‘concentrated effort’, by the French Government in their goal to making their country a startup nation through the 4 Bil Euro dedicated fund set aside to support young businesses and issuing special Tech visas.
France saw its first FinTech unicorn, ledger, valued at over 1 Bil Euro and prominent investors in Sequoia joining the club having invested in France for the first time.
Paris is home to more than 1.2K FinTech firms with founders stating that Paris is now a ‘go to’ destination for financial service investments.
France is shaping its own specialisation within FinTech with a focus on AI and crypto, including NFT.
Global Founders Capital’s David Sainteff had shared – “The French ecosystem has come a long way, and even if a lot of FinTechs are still early stage, they’re starting to be really solid. The next step is scaling.”
“Every big investor now stops in Paris”, the CEO of Lydia told Sifted earlier this year. The fallout from Brexit has also strengthened France’s position.
Last year, French minister Cedric O also told Sifted he expects Paris to overtake London as the European capital for FinTech. “The financial sector is one where we can take advantage of Brexit,” says O. “We see the pace of FinTech growth in France accelerating. The French quality of life and the quality of Paris as a finance hub are factors.”
At NAOS International, our senior consultants in Paris have been advising and hiring top talents for clients within the FinTech space for over a decade. Reach out to our team for guidance on your hiring strategy.
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