The greatness and misery of French technology

Yes, the period is good for record fundraising for French Tech. Sorare and Mirakl proved this week that French companies have the ability to raise record funds.

And just yesterday, the Big Mamma founders announced the raising of € 85 million for their QR code payment solution on Sunday. With this new financing, Sunday plans to expand its presence in North America and Europe, as well as its product line.

However, these announcements should not hide the failures that mark the hard history of French startups. Thus, the Swoon neobank, which after having closed for the summer, is criticized by former clients who are in a hurry to receive a refund of their deposited funds.

Swoon’s promise was tempting

In three years, I have placed more than 10,000 euros with Swoon ”, indicates an injured client in Les Echos. Several hundred people like him await reimbursement, amounts sometimes reaching tens of thousands of euros. Swoon founder Quentin Haddouche makes sure that every effort is done to quickly reimburse former clients.

Swoon’s promise was tantalizing. The company offered a 3% remunerated savings account that financed businesses in the Lille region. A very interesting performance. And a very risky investment.

Except that the company has never passed the “beta” phase of its activity. With the lengthening of money transfer times, customers became suspicious and the start-up model suddenly collapsed.

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