Start-ups: The Information You Shouldn’t Miss This Summer

Did you cut the news over the summer? Does not matter. Fundraising, acquisition, appointment to the Cabinet of the Minister of Digital, financial results: here are the things you need to remember about the months of July and August to prepare for the start of the school year.

Contentsquare doubles your rating

While ratings for certain scale-ups are declining, Contentsquare continues its relentless rise to the top. The online user experience company founded by Frenchman Jonathan Cherki has completed a $600 million financing round (including $200 million in debt) at a valuation of $5.6 billion.

The American fund Sixth Street carried out this operation together with the investment bank LionTree and several existing investors (Bpifrance, Eurazeo, Highland Europe, KKR, etc.). Contentsquare will be able to leverage this new funding to make further acquisitions.

How much accelerates in Germany

In the slumber of summer, Qonto has joined the (growing) list of French unicorns diving into the M&A bath. The neobank for TPE-SMEs offered Penta, its great German rival. This acquisition, carried out through a mix of cash – which it takes from its last fundraising of 486 million euros – and exchange of securities, will accelerate the installation of Qonto in Germany, a market where the unicorn had until then struggled to drill.

Alma, Apple’s partner of choice

The start-up, which raised 115 million euros in February, has been responsible for managing all of Apple’s split payment flows to France, whether in Apple Stores or on the e-commerce site. Very positive news for the fintech led by Louis Chatriot, as most split payment players, such as Klarna, which lost 85% of its value in one year, are going through difficult times.

Jean-Noël Barrot forms his cabinet

After his appointment, the Deputy Minister for Digital Transition and Telecommunications, Jean-Noël Barrot, formed his cabinet. The latter is led by Renaud Vedel, a great connoisseur of AI-related topics.

Carole Guillerm, Kevin Thuillier, Shaheen Javid, Franck Pasquier, Michael Reffay, Maxime Donadille, Mélanie Przyrowski, Hugo Levy-Heidmann and Baltis Méjanès also take part.

Former WeWork boss back in the saddle

Adam Neumann, former head of WeWork, is back on the offensive. The entrepreneur, symbol of Silicon Valley excesses, would have raised more than 350 million dollars with Flow, his start-up that wants to transform residential real estate… The company closed this financing with Andreessen Horowitz – the Californian fund known for its investments in the Facebook, Pinterest, Airbnb or Lyft – and you’ve already joined the unicorn club.

Swile and BPCE are getting closer

Swile has a new shareholder. And it’s… a bank! BPCE became the main shareholder of the French unicorn with a 22% stake. At the same time, the start-up led by Loïc Soubeyrand bought Bimpli, the banking group’s employee benefits business.

Softbank in great distress

Softbank, one of French Tech’s most generous sponsors through its Vision Fund II, is going through a rough patch. The Japanese group, with capital from Vestiaire Collective, Swile, Sorare and Contentsquare, suffered a loss of €23 billion in the first quarter (changed fiscal year), mainly due to asset impairments. Difficulties that could contain his ardor in the coming months.

The first promotion of agritech nuggets

The first cohort of the French Tech Agri20 has been revealed. This new French Tech mission program will, following the same principle as the other government indices (Next 40, Green 20, etc.), support 22 nuggets in the field of agriculture. Among them are Algama, Dry4Good, Green Spot Technologies, Lisaqua and Agriloops.

Bernard Arnault bets on Web3

Bernard Arnault, the head of the LVMH group (owner of the group “Les Echos”), will launch an investment fund dedicated to Web 3.0 and cryptocurrencies, experts believe. He will make his equity investments through the venture capital firm Aglaé Ventures and the LVMH group.

Vybe puts the key under the door

Three years after its creation, Vybe, a fintech aimed at Generation Z, was placed in compulsory liquidation. The service will end in two months and users will be invited to switch to its competitor Kard or the Lydia app.

My Jolie Candle has found a buyer

Also placed in receivership, My Jolie Candle found a buyer with the Emosia group, which owns Maison Berger Paris in particular. Founded in 2014, My Joly Candle is one of the pioneers of DNVD (Internet Born Brands) in France.

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