France has comprehensive regulations with respect to FinTech, with clearly defined rules for companies looking to scale up. FinTech has strong governmental and ministerial support. Moreover, Paris is home to a high concentration of financial institutions and asset managers. There is strong infrastructure established in payments, insurance and telecoms with large pools of talent available.
Paris Profile
- Data analytics
- Digital identity
- Cloud computing
- APIs
- Banking-as-a-service
- Insurance
- E-commerce
- Cyber security
- Robo advisors
- Fraud detection and mitigation
- Payments
- Limited exit opportunities
- Risk-averse culture
- Fiscal uncertainty
In less than three years since its launch HiPay has reached 2bn Euros of transactions processed. The company has global coverage, with 60% of its activity outside its domestic market. It is the only FinTech in France to be publicly listed on the market. Leetchi has become a key payment player in Europe in just a few years. Recently the most digital French bank, Crédit Mutuel Arkea, invested €50m in Leetchi to take 86% of the capital. The founding team is still fully in charge of leading the development of the company. A true example of co-opetition between a bank and a FinTech.