Finovate Global France, one of the most anticipated fintech events of the year, took place on September 7th and 8th, 2021. The event brought together some of the most innovative and disruptive fintech companies from around the world to showcase their latest products and services. Among the highlights of the event were Ledger’s success, Burger King’s cryptocurrency venture, and investments in French fintech companies.
Ledger’s Success
One of the biggest success stories to come out of Finovate Global France was Ledger, a French company that specializes in hardware wallets for cryptocurrencies. The company announced that it had raised $380 million in a Series C funding round, which was led by 10T Holdings. This funding round brings Ledger’s total valuation to over $1.5 billion, making it one of the most valuable fintech companies in Europe.
Ledger’s hardware wallets are designed to provide users with a secure way to store their cryptocurrencies. The wallets use advanced encryption technology to protect users’ private keys, which are used to access their cryptocurrency holdings. With the rise of cryptocurrencies, there has been a growing need for secure storage solutions, and Ledger has positioned itself as a leader in this space.
Burger King’s Cryptocurrency Venture
Another interesting development at Finovate Global France was Burger King’s announcement that it would be launching its own cryptocurrency in Russia. The fast-food chain has partnered with the Russian blockchain company Waves to create “Whoppercoin,” a cryptocurrency that customers can earn by purchasing Whopper burgers.
The idea behind Whoppercoin is to create a loyalty program that rewards customers for their purchases. Customers can then use their Whoppercoins to buy more burgers or trade them on cryptocurrency exchanges. While it remains to be seen whether Whoppercoin will be successful, it is an interesting example of how companies are exploring new ways to use blockchain technology.
Investments in French Fintech Companies
Finally, Finovate Global France also highlighted the growing interest in French fintech companies. Several companies announced significant funding rounds, including October, which raised €258 million, and Lydia, which raised €40 million. These investments are a testament to the strength of the French fintech ecosystem and the potential for growth in this sector.
Overall, Finovate Global France was a showcase of some of the most exciting developments in fintech. From Ledger’s success to Burger King’s cryptocurrency venture to investments in French fintech companies, the event demonstrated the potential for innovation and disruption in this rapidly evolving industry. As fintech continues to reshape the financial landscape, events like Finovate Global France will play an important role in bringing together the brightest minds in the industry and driving forward new ideas and technologies.
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