The French crowdfunding market experienced a significant decline in 2024, dropping by 17.1% compared to results generated in 2024. In total, €1.7 billion was raised, according to a report published by France Fintech in collaboration with Forvis Mazars. The peak amount of funds raised for the sector, as measured by the group, was in 2022 when €2.355 billion was raised. In 2023, €2.089 billion was raised.
In France, unlike the US, donations and rewards (e-commerce or pre-commerce) are included in the total, which is the smallest segment tracked by the report. Between e-commerce and charity, approximately €178.9 million was raised in 2024.
Debt capital stood at €1.349 billion, and other securities and royalties at €202.5 million.
The report incorporated surveys from 97 different platforms, including 17 in “donations” or “8 in donations without reward and 9 in donations with reward.”
57 platforms provided information from the debt or loan financing sector, and 23 for other securities like equity or royalties.
As was previously reported, real estate crowdfunding in France, mostly debt, has dominated the sector of investment crowdfunding, but last year, it fell below 50% of all funding raised.
In 2024, the French Crowdfunding Association (Financement Participatif France or FPF) merged with France Fintech in an effort to combine resources and improve advocacy results. France Fintech has been operating since 2015, seeking to bring together the various elements of financial technology, including access to capital.
At that time, it was explained that the market had changed and was becoming more European. Therefore, the combined entity would be able to strengthen the capacity for action to contribute to the development of Fintech and crowdfunding.
Following the approval by the EU, pan-European rules were enacted which allow platforms to sell securities across all member states. A platform must first be approved by a relevant authority under the new rules (ECSPR – European Crowdfunding Service Provider regulations). An issuer may raise up to €5 million under the rules.
In recent years, venture funding and private securities have struggled in most countries due to economic challenges and global strife. The report notes that there were more than 65,000 French business failures in 2024, according to the Banque de France, and “the ecosystem is faced with new challenges and must reinvent itself: consolidation, diversification of assets, improvement of customer experience… the process is underway.”
The report shares that in 2024, only 127 projects raising €68 million were financed by foreign [non-French] platforms operating in France via the PSFP [Crowdfunding Service Provider rules] or ECSPR. The document states that only 13 French platforms have been approved, with few actually listing offerings as of the release of the report.