It’s a new historic record for French Tech. While 2021 was already an exceptional year, 2022 is off to a flying start. Despite a context of geopolitical crisis, France is ahead of Germany: French Tech startups raised 5 billion euros during the first three months of the year.
La French Tech breaks all records at the start of the year
According to In Extenso fundraising barometerFrench Tech has never been as vigorous as in this first quarter of 2022. We can see that the amounts raised in France have jumped by 259% compared to the first quarter of 2021, to reach 5 billion euros. With 236 fundraisers, French Tech is growing by 21% in volume. Remarkable fact: the increase in the average ticket. It now reaches €21.3 million, which represents an increase of 173% compared to the first quarter of 2021. At the same time, the median ticket is also up (+60%). It now stands at 4 million euros.
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A very positive balance sheet, due in large part to some colossal fundraising. At the start of the year, the very closed club of unicorns has grown. In France, there are now 26 startups valued at more than one billion euros, against only 2 in 2017. In recent weeks, Qonto, Payfit and Ankorstore have joined the unicorn club thanks to exceptional fundraising: 486 million euros for Qonto, 254 million euros for Payfit and 250 million euros for Ankorstore. More recently, Doctolib also achieved a record fundraising (500 million euros), which allowed it to become the most valued French Tech startup at 5.8 billion euros, ahead of Back Market.
The Île-de-France region still far ahead
For Nicolas Landrin, Executive Director at the Center for Entrepreneurship & Innovation at ESSEC Business School, “The trend observed for several quarters is continuing for French Tech. The geopolitical situation, with uncertain economic and financial consequences, does not seem to have had any visible impact in the first quarter. In Europe and even more so in France, the number of transactions continues to grow and the amounts raised are still on the rise. If this trend continues, 2022 will once again be a record year for the French venture.”.
The barometer also looks at geographic disparities within France. Every year the Ile-de-France region always positions itself on the first step of the podium of the most dynamic regions, far ahead of the other regions. The French Tech ecosystem is very powerful there. In second position, we find the Hauts de France. Next come the Pays de la Loire, which gained 2 places compared to the previous edition of the barometer. New Aquitaine is in fourth position and the Auvergne-Rhône-Alpes region drops to 5th place. We can see that the Occitanie and PACA regions have disappeared from the top 5.
Disparities in fundraising in France. Image: In Extenso Barometer.