6 FinTech start-ups altering the finance sector in France
By Gloria Methri
FinTech is the new technology that seeks to improve and automate the delivery and use of financial services. At its core, FinTechs help companies, financial institutions, business owners, and consumers better manage their financial operations, processes by utilizing specialized software on computers and, increasingly, smartphones.
In France, there is a general sense of optimism in the FinTech sector, owing to effervescent start-up culture, increased access to capital, availability of technical talent and financial incentives.
Recently, France topped the rankings of LinkedIn’s second annual top start-ups list, with the representation of six companies. The list was produced using LinkedIn data in four areas, particularly employee growth, jobseeker interest, employee engagement, and their ability to attract talent from other top companies.
Following are the six FinTechs among the top start-ups in Europe this year.
Qonto is a business finance solution for SMEs and freelancers with banking, bookkeeping and online payment features. Founded in 2016, the FinTech raised €486 million in Series D funding in January 2022 at a valuation of €4.4 billion.
PayFit is a payroll management and HR software for companies with up to 500 employees. The company last raised €254 million in Series E funding in January 2022 at a valuation of €1.82 billion.
Beanstock is buy-to-let investment marketplace that allows individuals to buy and manage properties online. Founded in 2020, the company raised a €12 million Series A in April 2022.
Silvr is an alternative financing platform for digital entrepreneurs that offers solutions to boost company’s performance. It claims to be processing applications in less than 24 hours and borrowers can make repayments based on their revenue. The two-year old FinTech secured €130 million in February 2022.
Masteos is a property investment advisory agency that helps users find, buy, renovate, furnish and rent properties on its app. The Masteos advisor is responsible for the research, acquisition, valuation and management of an individual’s property. Founded in 2019, the company last raised €40 million in June 2022.
Swile is a digital solutions provider for employee benefits with a smartcard and an employee engagement app. Developed in 2018 in France, Swile aims to promote ‘happiness at work.’ The company last raised $200 million from Softbank in October 2021.
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