Fintech in France - statistics & facts
The fintech industry in France has experienced remarkable growth in recent years, establishing the country as a key player in Europe. France's fintech sector stands as the third largest in Europe, both in terms of user base and revenue, trailing only the UK and Germany. In 2023, France’s fintech user base exceeded 73 million, while the sector’s revenue amounted to over 1.5 billion U.S. dollars. This impressive growth reflects the significant expansion of France's fintech landscape over the past decade, with the number of fintech companies surpassing 950 by 2023.
However, this growth comes with challenges. Investment activity in France’s fintech sector saw a sharp decline, mirroring a global trend. Venture capital investment in fintech dropped dramatically, from 3.3 billion U.S. dollars in 2022 to just 890 million in 2023. Within this more cautious investment climate, business services and risk management emerged as the top sectors, attracting the highest share of total fintech funding.
France's fintech landscape is marked by its diverse and rapidly evolving sectors, from online banking to crowdfunding. As the third-largest fintech market in Europe, France continues to push the boundaries of innovation, despite challenges in investment activity. With strong growth in user engagement and the success of emerging segments like crowdlending, the country is poised to further solidify its position as a key player in the global fintech arena.
However, this growth comes with challenges. Investment activity in France’s fintech sector saw a sharp decline, mirroring a global trend. Venture capital investment in fintech dropped dramatically, from 3.3 billion U.S. dollars in 2022 to just 890 million in 2023. Within this more cautious investment climate, business services and risk management emerged as the top sectors, attracting the highest share of total fintech funding.
The rise of online banking
Online banking has become a central pillar of France's fintech sector, experiencing significant growth in recent years. By 2023, online banking penetration had reached 72 percent, marking a substantial increase as more consumers turned to digital solutions for their financial needs. The most active users of online banking are in the 25-34 age group, indicating a strong adoption of digital finance among younger generations. Alongside the rise in online banking, the user base for digital banks has also expanded considerably. Leading the charge is Boursorama, the largest neobank in France, boasting over six million users by 2023. Other notable players include Qonto, an all-in-one banking solution for SMEs, which solidified its position in the market by raising over 709 million U.S. dollars in funding in 2024, making it the most well-funded French neobank.Crowdfunding in France: a growing force in fintech
Crowdfunding has become a significant component of France's fintech landscape, with the amount of funds collected through crowdfunding platforms exceeding two billion euros in 2023. Among the different crowdfunding methods, crowdlending has emerged as the most prominent, attracting the vast majority of funds raised. This method allows individuals to lend money directly to businesses or projects, often with the promise of financial returns. In 2023, the popularity of crowdlending was evident, with over 2,900 projects launched. This method of raising capital continues to gain traction, with more than 186,000 people backing at least one project throughout the year. The average success rate of these crowdlending campaigns was impressive, just over 90 percent, underscoring the reliability and appeal of this crowdfunding approach in France.France's fintech landscape is marked by its diverse and rapidly evolving sectors, from online banking to crowdfunding. As the third-largest fintech market in Europe, France continues to push the boundaries of innovation, despite challenges in investment activity. With strong growth in user engagement and the success of emerging segments like crowdlending, the country is poised to further solidify its position as a key player in the global fintech arena.
