In France, many start-ups are involved in Fintech, with concepts and projects that are just as innovative as the others. Some of them have managed to become unicorns: that's the case of the 10 companies we present in this ranking.

Fintech, at the service of financial technological innovation

Fintech, recognized since 1980, is the abbreviation of " Financial Technology "(which translates as financial technology). It refers to technologies and innovations for financial services.

These include banking services, payment solutions, electronic banking, insurance and online trading services. Fintech gives businesses and consumers access to innovative, high-quality banking services at lower cost.

Ranking of the 10 French Fintech unicorns

Renowned in the Fintech sector, Lydia is an app that officially obtained unicorn status in December 2021, thanks to a fundraising of 103 million euros.

Today, the bank account management app is the second most downloaded in its category.

A total of 5.5 million users have installed it on their smartphones.

The concept? A mobile payment and account management platform. It enables users to transfer money, manage their finances and pay their bills, all entirely online or via the mobile application. 

Qonto is a 100% online banking platform for SMEs, freelancers, startups and associations. It provides these structures with a bank account, Mastercard debit cards and all the payment services and financial management tools they need to optimize their financial management.

Its promise is clear: to provide comprehensive assistance to businesses, while saving them time and money, thanks to simplified banking services. simplified banking services and optimal management of their finances.

Awarded the title of Best French Fintech in 2019Qonto now has over 300,000 customers.

This unicorn has become the most valuable in France, with a valuation of 4.4 billion euros after raising 486 million in early 2022.

Ledger is a fintech unicorn specialized in the secure storage of crypto-currencies (cold wallet), on computer and cell phone. If you translate its name into French, it would sound like "registre". And with good reason: it's a virtual wallet that stores and provides security and management solutions for crypto-currency users. 

The Ledger group has had several platforms since 2014, including Ledger Wallet, Ledger Nano X, or Ledger Nano S, all three of which are cold wallets with the same functionality, but different capabilities.

Since June 2021, the unicorn has been valued at 1.5 billion thanks to a 380 million.

Shortly after this report, the company was the target of a theft of its customers' data. This unfortunate event was a major blow to the startup, which nonetheless managed to bounce back.

Spendesk is a web-based expense management.

It enables companies (VSEs and SMEs) to optimally manage and control their business expenses and invoices (thanks to simplified payment methods, simplified receipt collection, accounting services, and many other tools). It also has the advantage of reducing users' transaction costs. 

Its customers include such big names as Deezer, Doctolib, Brut and L'Olivier Assurances.

The company remains rather discreet about its financial data. What we do know is that it posted sales of 8.2 million in 2020, which represents 78,3% more than the previous year. In 2022, Spendesk announced that it had raised 100 million euros, following on from its Series C in July 2021.

The latest addition: Younited is the new unicorn of 2022. It is its 60 million euros from its main shareholders that earned it this recognition.

The startup was founded in 2012, but its growth peak is in 2021, with an annualized GMV increase of more than 140% (€1.2 billion). To date, its directors have stated that they are considering an IPO within the next few years.

Younited is a platform specializing in consumer credit for individuals and businesses. It also offers other online services in this field, such as advice, loan models, credit information and support to help customers find the best financing solution for their needs.

Founded in 2015, Payfit is a platform, in the form of software, for payroll management and HR solutions online. It enables small and medium-sized businesses to easily automate the time-consuming tasks listed in these categories.

Its other great advantage is that it allows structures to keep an eye on their finances and the the impact of expenses (vacations, absences, expense accounts...).

All this is available with no commitment and no extra charges. Payfit also offers its users support from payroll experts.

Now present in over a dozen countries, the platform has won over 6,000 structures across Europe.

Its success was such that the unicorn raised 254 million at the beginning of 2022, for a valuation of 1.82 billion. These and other figures earned the company the title of unicorn.

Lunchr, recently renamed Swile, is an app designed for companies and their employees. Initially specialized in the dematerialized meal vouchersThe company is looking to expand its activities to include other services for structures and their staff. 

It offers companies a Mastercard smart card, dematerializing meal vouchers and enabling users to pay for meals, travel, gift vouchers and other purchases. It also offers companies management tools and analysis services to monitor their spending.

In terms of figures, Swile boasts a market share of 13% of the market in France. In January 2022, the company won its first contract with a CAC 40. This was a great success for the unicorn, which in 2021 had sales of 10 952 421 sales.

Since 2009, Leetchi has been a platform for virtual fundraisingthe European leader in its category.

Its users can create fundraising campaigns and receive donations and payments online. It also provides tips and tools to help users create and manage their fundraising campaigns.

Its two majority shareholders are the management of its founder and Crédit Mutuel Arkéa, who own 14% and 86% of the startup's shares respectively.

In 2017, Leetchi's sales totaled 7.1 million euros, despite the controversies that arose. In terms of losses, the company posted a profit of 2 511 000 euros in the same year.

Alan is actually somewhere between medtech and the fintech. If the unicorn is in our ranking, it's thanks to its concept, which has been revolutionizing the insurance industrywith innovative health, mutual, provident and life insurance services at affordable prices.

The 100% digital, independent platform offers companies, start-ups and the self-employed insurance policies fully tailored to their needs and those of their employees.

Today, 17,000 organizations rely on this innovative unicorn to manage their needs and help them find the best healthcare solutions.

In terms of numbers, Alan raises funds at the same time every year, namely in the spring. This year, the unicorn announced in May that it had raised 183 million euros. Today, its net worth is 2.7 billion euros.

To close the top of this ranking, we present Shift Technology. Founded in 2014, this is a company that uses Artificial Intelligence to analyze data, in order to provide the information needed to fraud detection for P&C insurers and brokers.

In short, the software learns to spot suspicious behavior, enabling insurance companies to detect and prevent fraud.

This technology enables insurers to increase their operational efficiency, reducing claims handling costs and fraud-related losses, which can quickly run into the millions of dollars.

With a presence in more than 20 countries, Shift Technology is valued at more than1 billion for sales of 35 million in 2020. By May 2021, the unicorn had raised a total of 220 million to invest in R&D.

 

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Jérémie V - Copywriter