The good resilience of French start-ups in the face of the decline in fundraising

The time of easy money is over, but French start-ups are not giving up. In its annual study on the financial health of French Tech start-ups published this Friday, the Banque de France notes the good resilience of young startups in the face of the significant drop in fundraising. Having combed through the accounts of 2,640 companies, the institution notes that despite a decline in fundraising of 5% in amount and 15% in number of operations in 2025, operating losses are reduced and turnover continues to increase significantly.

The latter is increasing by 11.6% between 2024 and 2025, a “growth dynamic significantly higher than that observed for SMEs (1.5%) and mid-caps (1.2%),” explains the Banque de France. Lise Gandrille-Talarico, national correspondent for business support at the Banque de France, judges that the ecosystem has remained “extremely dynamic” in 2025.