France startups show higher single-round funding share than Spain at pre-seed and seed
- France has 54% single-round share vs Spain's 49%
- Seed stage single-round share is 52% in France, 44% in Spain
- Pre-seed single-round share is 52% in France, 50% in Spain
Across the 4,526 startups Brouky tracks whose first tracked round was at least two years ago, France exhibits a higher share of startups that raised exactly one round and never raised again compared to Spain. Specifically, 53.8% of French startups fall into this category, while the figure for Spain is 48.7%. This metric captures funding persistence differences, acknowledging that some second rounds Brouky did not capture would make a startup look stalled; the level is inflated but cross-country comparison is meaningful.
At the seed stage, the share of startups in France that stalled after one round reaches 51.8%, contrasting with a notably lower 43.5% in Spain.
Pre-seed stage single-round shares are closely aligned, with France at 52.1% and Spain at 49.5%. The smaller gap here indicates that early funding persistence is more similar across these countries, with divergence appearing more at the seed stage.
Related insights
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