Just like technology, France’s fintech environment keeps on evolving. Most importantly, Paris is carving out a prime position for itself in the fintech scene lately by actively taking part in the financial revolution.
The government of France is supporting a series of programs to promote startups and SMEs on financial markets and has introduced financial incentives with a tax credit for research (CIR) and employment (CICE).
With the Brexit looming, the city of lights is poised to become ‘Europe’s Financial Hub. Notably, this city is home to success stories in various segments of the financial industry, supported by increasing private and public investments.
In this regard, let’s take a closer look at 10 of the most interesting Paris-based fintech startups.
Ledger
Funding: €72.7M
Founders: Eric LarchevĂŞque, Joel Pobeda, Nicolas Bacca, Thomas France
Ledger develops security and infrastructure solutions for cryptocurrencies as well as blockchain applications for both individuals and companies alike. Earlier this year, the company launched a new cryptocurrency hardware wallet ‘Nano X. It has ‘Ledger Live Mobile App’ through which users can seamlessly manage their tokens.
Alan
Funding: €77.6M
Founders: Charles Gorintin, Jean-Charles Samuelian
Founded in 2016, Alan offers hassle-free digital health insurance solutions to users with an excellent price-quality ratio health plan. It is the first new independent insurance licensed in France since 1986 by the French Prudential Supervisory Authority (ACPR).
PayFit
Funding: €19.5M
Founders: Firmin Zocchetto, Florian Fournier, Ghislain de Fontenay
Payfit uses a SaaS solution to make paying employees much easier. Founded in 2015, the startup allows SMEs to manage payments and leaves of employees easily without any knowledge in payroll. The employer will have to ask a few simple questions and generate pay sheets automatically.
Qonto
Funding: €31.6M
Founders: Steve Anavi, Alexandre Prot
Qonto established in 2016 provides startups with online banking solutions. It presents itself as the first completely online SME financing tool. It offers online banking services to let startups, SMEs, and entrepreneurs create a bank account within five minutes. Also, they will instantly receive an IBAN and can manage the company’s digital and physical business cards and perform day-to-day operations.
Lydia
Funding: €24.3M
Founders: Antoine Porte, Cyril Chiche
Lydia founded in 2011 aims to make payments easier for clients. It lets users spend money abroad without any specific fee on both withdrawals and payments, pay contactless using any mobile device without a limit and in a secure manner, manage the bank account from a single app, and more. It lets users pay online safely with unlimited internet cards and set up shared expenses fairly and get notifications to manage the expenses.
Wynd
Funding: €111M
Founders: Arthur Perticoz, Ismael Ould
Wynd offers an omnichannel solution in SaaS “unified trade,” which manages the financial and logistical, flows of stores, ranging from cashing to piloting the preparation of orders on the shelves. This software helps in integrating the inventory across online stores as well as offline stores.
Younited-credit
Founders: Charles Egly, Geoffroy Guigou, Thomas Beylot
Younited Credit provides an online platform designed to connect and facilitate financial transactions between lenders and borrowers without the intermediation of a traditional financial institution. It was founded by Charles Egly, Geoffroy Guigou, and Thomas Beylot in 2009.
October
Funding: €55M
Founders: Olivier Goy
Formerly known as Lendix, October is an online marketplace for business loans, enabling investors to lend money directly to small- and medium-sized enterprises.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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