France announces EUR 5 bln investment plan to support startups

Wednesday 25 March 2020 12:58 CET | News

President Macron has secured a EUR 5 billion investment to help the country’s startups survive the coronavirus pandemic and maintain cash levels in between their fundraising, reports Electronic Payments International.

French insurers and asset managers have pledged EUR 5 billion in investment for home-grown tech firms. 

The investors, mainly banks and insurers, include BNP Paribas’s insurance unit, Natixis, Axa, Aviva, and Allianz.

Under Mr. Macron’s three-year plan, French insurers and asset managers have agreed to invest more money directly into startups or to channel their investments through established venture-capital funds.

They can also plough money into a fund set up by France’s national investment bank Bpifrance, French officials said.

Other measures taken by the government include eased regulations and tax cuts.

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Keywords: France, investment, startups, coronavirus
Categories: Banking & Fintech | Payments General
Countries: France
This article is part of category

Banking & Fintech