In a serious and friendly atmosphere at Monaco Innovation Runway of Monaco Tech on March 30th. Fabrice Marsella, director of La Banque des Startups By LCL was the guest of director Chloé Boscagli. The agenda included a focus on innovation financing chain, as well as a look back at the journey of someone who is known for helping entrepreneurs grow and thrive. With more than 500 startups under his belt, Fabrice Marsella is recognized for originating the first VillagebyCA.
Back in 2015 in Paris, this village emerged during a pivotal moment in the French entrepreneurial ecosystem. The French Tech was just emerging, while large corporations were still observing startups from a distance. In this context, the initiative led by Crédit Agricole aimed to bring together actors with different profiles in one place to foster innovation. “We wanted to embody open innovation by bringing extremely different people together, and this difference would lead to innovation,” explained Fabrice Marsella. Despite these two worlds initially ignoring or even opposing each other, they are closely intertwined. On one side, startups seeking funding, clients, and support; on the other, large corporations looking for agility and new ideas. The concept proved successful and expanded nationwide, fulfilling a strong entrepreneurial aspiration. “Quickly, similar Villages started popping up everywhere to allow entrepreneurs to create from their own locations.”
Understanding the logic
Facing entrepreneurs often lost in the complexity of financial mechanisms, Fabrice Marsella emphasized the need to understand the “financing chain.” It starts with the founder’s personal commitment, continues with love money, subsidies, then business angels before opening the door to bank financing.
“The bank doesn’t take equity, it allows you to remain in control. You just have to repay it.” Following this order is crucial according to the expert who believes that “skipping steps weakens the project and can permanently close certain doors. The actors in the financing chain are not in competition, they are complementary.” The bank steps in at a specific moment, when the startup has shown initial traction and can rely on solid qualitative signals.
During his talk, the Director of La Banque des Startups also provided a series of advice for entrepreneurs. Firstly, he stressed the importance of choosing business angels carefully, prioritizing those who can leverage their network rather than just providing capital. “It’s not about money at any cost, but about qualitative money. It’s better when the business angel is committed,” Fabrice Marsella affirmed. Additionally, paying attention to the team composition and the support the startup receives are two determining criteria for financing decisions. He also warned about certain “red flags,” like inconsistent salary increases compared to the company’s financial situation or an overly optimistic business plan that banks always reevaluate. “We look for entrepreneurs who reasonably project into their business and whose problem to solve is wide and deep enough to gain commercial traction.” Lastly, he reminded that fundraising should never become an end in itself – without revenue generation, it loses its purpose. In a broader sense, Fabrice Marsella encourages entrepreneurs to adopt an appropriate posture for each interlocutor. Communication should differ when talking to an investor, a client, or a banker. Understanding the expectations of each, especially the funder, is a leverage point for persuasion.
From the first pitch to scaling up
Building on his experience at VillagebyCA, Fabrice Marsella decided to join La Banque des Startups by LCL. “When I was at the village, I had this frustration of not being able to meet the financing-related expectations,” remembers the former startup coach at BFM Academy, eager to intervene from the early stages of companies’ lives. His ambition? To support startups from the seed stage to their expansion phase, combining financing and operational support. For him, “It’s about being useful to entrepreneurs by addressing all the questions that keep them up at night.” Beyond loans, La Banque des Startups by LCL leverages a major strategic asset: the bank’s client network, especially the ETIs (intermediate-sized companies), which it connects with startups to boost their orders, generate revenue, and secure their growth. In 2025, the structure received 405 applications and financed 82 companies, with 50% in the seed stage, totaling 38 million euros.
