Today marks an exciting milestone for many in the burgeoning French tech landscape as Ledger — the leading secure gateway for digital assets, joins the highly coveted billion-dollar company club bringing the country’s unicorn count to 20 and joining the ranks of Alan, Doctolib and Meero among others. With its $380M Series C led by 10T and backed by existing French investors including us at Cathay Innovation, Groupe Arnault and some of our strategic investors, the latest financing values our early-backed Ledger at over $1.5B — reflecting its rapid and accelerating growth.

With the world on the verge of becoming…


Part II: Customers, Products, Marketing & Sales

By Pascal Laik and Denis Barrier

About the Authors: Pascal Laik is a seasoned technology executive with a 26-year track record of building high-performace teams and explosive international growth for rising scaleups to tech titans such as Oracle. Denis Barrier is the co-founder & CEO of global venture capital firm Cathay Innovation and was an investor and board member in one of Laik’s companies.

France has become one of Europe’s hottest technology hubs — — although, we have yet to produce meaningful startup exits compared to the likes of the US, China or even other neighboring European regions. Of the…


Part I: Vision, Culture & Leadership

by Pascal Laik and Denis Barrier

About the Authors: Pascal Laik is a seasoned technology executive with a 26-year track record of building high-performace teams and explosive international growth for rising scaleups to tech titans such as Oracle. Denis Barrier is the co-founder & CEO of global venture capital Cathay Innovation and was an investor and board member in one of Laik’s companies.

Over the last five years, the French ecosystem has emerged as a rising startup powerhouse in Europe, alongside the UK and Germany. With active government support through Bpifrance, the amount of venture capital funding raised by French…


Innovation in the mobility space has recently been driven by factors falling roughly into two categories: economy and climate. Both are essential in the shift to a more sustainable economy, and in the case of mobility, it is also a driver for most human activities. Some of the biggest modern evolutions have largely stemmed from a shift in energy production and consumption, such as the industrial revolution, with the next phase being the transition away from fossil fuels to renewables. …


With 2020 officially at a close, many are reflecting on the year that was and what the future holds. While none of us were expecting the world to be completely turned on its head at the hands of a global pandemic, I’ve been continuously impressed and inspired by the immense demonstration of strength, resilience and grit throughout the startup community and beyond.

Reflecting on the last year at Cathay Innovation, I’m humbled by the achievements we’ve seen from our portfolio companies, our team and our wider network. We’ve seen the entire Cathay ecosystem mobilize to provide support from donations to…


By: Nicolas Du Cray and Denis Barrier, Cathay Innovation

The global insurance industry is changing rapidly. It’s also a critical component of the global economy with total direct written premiums (DWP) reaching $5.2 trillion in 2018, or 6.1% of global GDP (according to Pitchbook). Naturally, one of the biggest drivers today stems from the repercussions of the global pandemic — from the impact on human lives and health to the economic fallout from lockdowns. …


Denis Barrier and Alexandre Lazarow, Cathay Innovation

The neobank, or digital bank, phenomenon continues to take the world by storm with global winners from Brazil’s Nubank valued at $10 billion, Berlin’s N26 valued at $3.5 billion and Chime, now valued at $14.5 billion as the most valuable consumer fintech in the United States.

Neobanks have led the charge of the $3.6 billion in venture capital funding for consumer fintech startups in 2020. And as the coronavirus-fueled acceleration of digital transformation continues, it seems the digital and mobile-native bank is here to stay with some estimates pointing to neobanks reaching 60…


At Cathay Innovation, everything we do is based on clear principles. One of which is working towards positive change and partnering with those committed to providing better ways of doing useful things through technology.

We are big believers in the digital revolution across industries including mobility, fintech, new retail and beyond. This is clearly demonstrated by our investments in companies pushing forward innovation in their fields such as Pinduoduo — taking China from e-commerce to the social commerce era; Chime — transforming banking and financial inclusion in the US; and Glovo — taking on-demand delivery to the next level in…


Today, we’re pleased to announce that we’ve reached a significant milestone in raising €500M ($550M), over our original target, for our second venture capital Fund to invest in visionary entrepreneurs impacting the world through technology. Through Fund II, one of three new funds recently recognized by the French Ministry of Economy and Finance for our commitment to technology companies, we’ll continue backing emerging companies at the center of digital revolution. …


By Denis Barrier & Nicolas Ducray

Over the last few years, Southeast Asia (SEA), home to over 650 million people and startup unicorns like Grab, Gojek and Tokopedia, has been recognized as one of the hottest emerging startup economies to watch due to rapid growth and an increasingly mobile-savvy population — with mobile penetration growing 132% in 2019.

But now, with the Coronavirus sweeping across the world, many are wondering how the pandemic will impact these emerging economies. Up until last week, SEA had seemingly avoided the mass spread of the virus we saw in so many other densely populated areas. …

Denis Barrier

Co-founder and CEO of Cathay Innovation

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