French startups take 4 months longer than German peers to move from Series A to B
- French startups take 25 months median from Series A to B, 4 months longer than Germany
- Seed to Series A velocity is nearly identical: 22 months in France, 23 in Germany
- Pre-seed to seed rounds show France’s median time is 37 months vs Germany’s 20 months
Across the 207 Series A to Series B round pairs Brouky tracks in France and Germany from 2015 onward, French startups take a median of 25 months to reach Series B after Series A, compared to 21 months for German startups. This difference may partly reflect expanding data coverage.
The seed to Series A transition shows nearly equal median times: French startups take 22 months while German startups take 23 months. This suggests the divergence in speed emerges later in the funding journey rather than at the earlier seed stage.
MEDIAN MONTHS PER FUNDING TRANSITION FRANCE VS GERMANY
Earlier rounds reveal a more pronounced gap: France’s median time from pre-seed to seed is 37 months, nearly double Germany’s 20 months. This indicates French startups face longer waits to progress in the earliest financing step, which may influence overall pace through subsequent rounds.
Interestingly, the median time from Series B to Series C-plus reverses the pattern, with French startups moving faster at 18 months compared to Germany’s 20 months.
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