In recent years, the number of unicorns has exploded around the world, particularly in France.

Innovative and with strong growth potential, they are closely followed by investors and the media who do not hesitate to keep a list of French unicorns entering and leaving this ranking.

Indeed, a popular entry in this ranking is not open to everyone. To be included, it is imperative to respect certain conditions:

• The start-up must be valued at more than a billion dollars (within ten years of its creation according to some); • The head office must be located in France;
• It must not be listed on the stock exchange;
• Its offer must be innovative and disruptive;
• It must experience strong growth thanks to fundraising.

Even if the criteria for entry into the ranking are precise, not everyone agrees on the number of French unicorns in 2025.

To construct this ranking, we rigorously respected the conditions to be a unicorn company and thus eliminated certain start-ups that you might see listed elsewhere. For example, Deezer left the ranking in June 2022, since its IPO. Talend, Kyria or Dataiku are not or no longer considered French unicorns since the move of their headquarters across the Atlantic. Aircall has risen to the rank of Centaur. We can also cite Hugging Face, which despite having been created by French people, still has its headquarters in the United States. Finally, Septeo is considered by some to be a French unicorn (especially after its latest fundraising in 2024), but it seems that its valuation has exceeded a billion dollars 10 years after its creation. It therefore does not meet the demanding criteria.

Difficult to navigate, we grant you that! For our part, we will endeavor to keep this list up to date as start-ups enter or leave the ranking.

The French unicorns of French Tech in detail

These are 30 innovative and fast-growing start-ups which obtain the holy grail by integrating this ranking. Who are they and what do they do? We tell you everything.

1. Doctolib

Created in 2013, we no longer need to present Doctolib, the platform for making and managing online medical appointments. The start-up simplifies the daily lives of healthcare professionals by digitalizing many administrative tasks. It conquered France before attacking other European countries since 2016.

Doctolib has carried out several fundraisings, including a final one in 2022 of 500 million euros. It is today the highest valued start-up in French Tech.

2. Back Market

Back Market is a marketplace specializing in reconditioned products. Created in 2014, the start-up focuses its activity on France, including the sale of second-hand and refurbished smartphones. But its activity is growing quickly (and well!) to the point of opening up internationally and expanding its range to other products that equip homes.

6 months after its entry into the ranking, Back Market becomes the most valued unicorn (before giving its place to Doctolib) thanks to its latest fundraising in January 2022 for an amount of 450 million euros.

3. Contentsquare

A specialist in the analysis of Internet user behavior, Contentsquare supports large companies through various solutions aimed at improving the customer experience based on the analysis of the data collected.

With a fundraising of $500 million in 2022, Contentsquare has doubled its valuation to reach $5.6 billion in 2023.

4. Qonto

New unicorn of 2022, Qonto offers a professional online bank account to self-employed people, VSEs and SMEs. This complete solution ensures that its customers can facilitate their daily administrative and financial management thanks to various payment methods and a powerful and ergonomic mobile application.

Its latest fundraising of 486 million euros propelled it to the foot of the podium of the most valuable French unicorns. And the start-up does not intend to stop there with plans for strong international development.

5. Sorare

Dedicated to football fans, Sorare is a platform for collecting and exchanging collectible cards bearing the image of football players, in the form of NFT (Non Fungible Token). This young start-up from 2018 has benefited from several fundraising events and the media coverage of various football events.

In the world of start-ups, Sorare made headlines by securing one of the largest fundraising rounds in the history of French Tech, with no less than $680 million.

6. Mirakl

A world leader in software publishing, it is its Mirakl Marketplace Platform product that has made the start-up famous. It offers businesses SaaS solutions to create their own BtoB or BtoC marketplace platforms. Created in 2012, Mirakl joined the herd of French unicorns 9 years later.

A fundraising of $555 million in 2021 marked its entry into the ranking, valuing it at $3.5 billion.

7. Veepee

Veepe (formerly vente-privee.com) is included in this ranking, and yet the e-commerce company is already 21 years old. Despite everything, it meets the conditions of unicorns with an innovative offer: the online sale of destocked brand products, at a relatively low price and in a very short time.

Veepee also stands out for its sources of financing since it does not rely on venture capital financing. She became a unicorn in 2015.

7. ManoMano

An e-commerce platform, Manomano specializes in DIY and gardening tools and equipment. Founded in 2013, the start-up rode the wave of DIY (Do It Yourself) and periods of confinement to conquer this new online market.

It recorded growth of more than 100% in 2020!

A fundraising of $355 million allowed it to join the coveted ranking of unicorns in 2021.

8. Payfit

Payfit is an online solution for digitalizing human resources management for VSEs and SMEs. This start-up, created in 2016, is already present in four European countries (France, Spain, Germany and the United Kingdom) and intends to continue the development of its software in other territories.

Payfit can boast of having joined the ranks of French unicorns in 2022 with its latest fundraising to date, amounting to 254 million euros.

9. Blablacar

We no longer present Blablacar, the leading carpooling platform in France. Launched in 2004, it allows drivers to offer car journeys to individuals in order to share travel costs. Blablacar quickly established itself thanks to the successful digitalization of its services and its diversification strategy.

A member of the unicorn club since 2015, it is now valued at $2 billion, just like Payfit.

10. Mistral AI

This young generative artificial intelligence startup was created very recently, in May 2023. It offers open source models and intends to compete with major players in the sector such as OpenAI or Microsoft.

Mistral AI ends the year 2023 in style thanks to a second fundraising granting it the flow of French unicorn and a valuation estimated at 2 billion dollars.

11. Verkor

Specialist in electric batteries, Verkor plans to revolutionize the manufacturing of low-carbon electric batteries in order to equip cars. Its plan is to open a giant battery factory in Dunkirk by 2025.

Verkor discreetly joined the ranks of unicorns in September 2023, following a fundraising of 850 million, part of a larger operation of 2 billion euros.

12. Exotec

The entry of Exotec into this ranking attracts attention since it is the first unicorn from the industrial sector. This robotics company created the Skypod, a robotic order preparation system capable of moving in 3D in warehouses (like Kiva at Amazon).

With a fundraising of 335 million euros, it is one of the eight new unicorns of the 2022 vintage.

13. Ankorstore

Ankorstore is a marketplace that connects merchants and suppliers. The 30,000 European brands present on the platform offer decoration, fashion, grocery, well-being items, etc. Its founders are none other than former Etsy or Vestiaire Collective (another unicorn).

It took barely two years for Ankorstore to join the closed circle of French unicorns thanks to a fundraising of 250 million euros in 2022.

14. Collective locker room

This start-up created in 2009 is a second-hand resale platform for high-end clothing and accessories. The site is present in more than 80 countries around the world.

Like Veepee, Vestiaire Collective had to wait a few years before being able to join the list of French unicorns.

It was a financing campaign with the French luxury group Kering reaching nearly 180 million euros in 2021 which allowed it to cross the threshold of a billion dollars in valuation.

15. Voodoo

Voodoo designs smartphone video games that are easily accessible, free and quick to play. It was in 2013 that its founders launched these “hypercasual” games and convinced 300 million players per month. The start-up quickly became a reference in the gaming world.

A fundraising of 266 million euros in 2020 marked its entry into the ranking of French unicorns with a valuation of 1.7 billion dollars.

16. Alan

Alan is shaking up the health sector with health insurance dedicated to self-employed people and businesses, 100% online. It is one of the first independent insurers in France which has a very efficient web interface and mobile application. It promises to simplify the daily lives of entrepreneurs while providing quality services.

This start-up joined the ranks of unicorns only 5 years after its creation, thanks to a fundraising of 185 million euros in 2021.

17. Ledger

The first unicorn to come from the cryptocurrency sector, Ledger designs, markets and stores cryptocurrency wallets. Since 2014, it has been aimed at both individuals and professionals.

The latest fundraising of $100 million in 2023 follows the previous one dating from 2021, which allowed it to align itself with the rank of French unicorns with a valuation of $1.5 billion.

18. NW Group

Among the 2022 winners, we find NW Groupe. This start-up created in 2007 innovates in the energy transition sector. Its mission includes charging stations for electric cars, the development and operation of green energy production sites, but also the storage of this energy.

A fundraising campaign allowed them to raise 300 million euros from the financial institution RGreen and placed it tied with Ledger in the ranking.

19. iAD

The real estate start-up is made up of a network of independent commercial agents, representatives, in order to offer a digital service, more flexible, more equitable and above all without agencies. To compete with traditional agencies, iAD relies on extensive training for its more than 18,000 agents around the world.

Its latest funding round reached 300 million euros thanks to the famous American investment fund Insight Partners.

20. Dental Monitoring

Dental Monitoring takes advantage of the development of AI to revolutionize dentists’ practices. The latter can thus monitor their patients thanks in particular to intra-oral photos or a virtual office to carry out certain treatments remotely.

Created in 2014, this unique start-up in its field obtained a fundraising of 150 million dollars in 2021, granting it the title of French unicorn.

21. Younited

Latest entry in the ranking, Younited is a French start-up specializing in consumer credit. This fintech is aimed at individuals in several European countries and does not seem to have suffered from the economic context with constant growth.

A fundraising of 60 million euros propelled it to the rank of French unicorn in 2022 and allows it to continue to diversify its activity, in particular through partnerships.

22. Spendesk

It was also in 2022 that the unicorn club welcomed Spendesk. This fintech offers a global and complete professional expense management platform.

Launched in 2006, the company is experiencing rapid growth, is present in 3 countries and already employs more than 500 employees.

Spendesk has raised funds until the last one, amounting to 100 million euros. This is how it reached the coveted billion dollar valuation, the key to entering the ranking.

23. Ivalua

Just like Contentsquare, Ivalua is a start-up from the 2000s (its place in the ranking is therefore sometimes called into question) which offers a software solution to manage the entire purchasing process of a company. It has already convinced big names in France and around the world, such as Thales, Crédit Agricole, L’Oréal and Total.

It took Ivuala 19 years and a final fundraising of 60 million euros to achieve the title of unicorn.

24. Dental Monitoring

Dental Monitoring takes advantage of the development of AI to revolutionize dentists’ practices. The latter can thus monitor their patients thanks in particular to intra-oral photos or a virtual office to carry out certain treatments remotely.

Created in 2014, this unique start-up in its field obtained a fundraising of 150 million dollars in 2021, granting it the title of French unicorn.

25. Younited

Latest entry in the ranking, Younited is a French start-up specializing in consumer credit. This fintech is aimed at individuals in several European countries and does not seem to have suffered from the economic context with constant growth.

A fundraising of 60 million euros propelled it to the rank of French unicorn in 2022 and allows it to continue to diversify its activity, in particular through partnerships.

26. EcoVadis

This start-up specializes in evaluating and improving performance in terms of Corporate Social Responsibility (CSR). Thanks to the support of SaaS software, it collects data and evaluates more than 90,000 companies in 175 countries. The latter can thus improve their CSR practices throughout the supply chain.

A record fundraising of $500 million allows it to receive the French unicorn badge but above all to continue to develop its activity internationally.

27. Pennylane

A fintech solution, Pennylane offers complete management software, integrating invoicing, accounting, cash flow monitoring, but also a professional bank account. This all-in-one service offering is aimed at self-employed people, entrepreneurs and also accounting firms.

Thanks to a fundraising of €40M in February 2024, Pennylane is the latest entry in the 2024 ranking of French unicorns.

28. EcoVadis

This start-up specializes in evaluating and improving performance in terms of Corporate Social Responsibility (CSR). Thanks to the support of SaaS software, it collects data and evaluates more than 90,000 companies in 175 countries. The latter can thus improve their CSR practices throughout the supply chain.

A record fundraising of $500 million allows it to receive the French unicorn badge but above all to continue to develop its activity internationally.

29. Pennylane

A fintech solution, Pennylane offers complete management software, integrating invoicing, accounting, cash flow monitoring, but also a professional bank account. This all-in-one service offering is aimed at self-employed people, entrepreneurs and also accounting firms.

Thanks to a fundraising of €40M in February 2024, Pennylane is the latest entry in the 2024 ranking of French unicorns.

30. Pigment

Launched in 2020, Pigment is financial planning software intended for company executives and financial departments. Thanks to the performance of its functionalities and the assurance of reliable data, it helps organizations organize their strategic decisions.

Pigment has a series of fundraising rounds, including one of 80 million euros in mid-2023 and the last in April 2024, which grants it the position of unicorn.

The importance of unicorns for the French economy

If the term “unicorn” was chosen by Aileen Lee (an expert in venture capital investment in the United States), it is not for nothing! It designates something extremely rare and magical.

Indeed, as you have now understood, the conditions for entry into this ranking are difficult. And for good reason: reaching a valuation of one billion dollars is not given to all start-ups that launch! The “start-up nation” (taken from Emmanuel Macron’s political slogan) took particular time to see its young shoots integrate this closed circle. It took various measures to help young companies and thus see the French list go from 5 unicorns in 2019 to 30 unicorns 5 years later. But why are French unicorns important for our economy?

Several reasons explain the interest in seeing the number of French unicorns increase.

First of all, a unicorn is by definition a company that grows quickly. Who says strong growth, says recruitment, investment, new markets: good factors for the country's economy.

In addition, a start-up that obtains the title of unicorn establishes itself in an innovative and very promising sector. It thus eradicates any chance of competition on a continental or even international scale. And having a French company that is developing in other European or intercontinental countries is positive for the dynamic image of France.

Finally, these unicorns call on French investors, but also and very often foreign ones. If France is armed with more and more attractive companies, it can become a reference for investors who will be more interested in it.

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