GB pushed the French - ranked No.2 in Europe and No.6 in the world - all the way, eventually succumbing by just six points, 63-57.
Captain Temi Fagbenle led the British fight with 20 points and eight rebounds, while Sydney Wallace was also in double figures with 17.
France got off to a hot start, taking the opening quarter 19-10 but Coach Buceta's team hung in to narrow the gap to five points (29-24) at the half and levelled things up at 35 apiece early in the third via a Fagbenle lay-up.
GB remained in contention but couldn't quite overhaul their rivals, for whom Mamignan Toure led the scoring with 15 points.
It leaves GB with a 1-1 record following the spectacular opening Group C win over hosts Slovenia on Thursday.
They face Germany in the final game of the four-team group on Sunday. The group winners progressing directly to the quarter-finals and the second and third-placed teams go into a playoff to join them.
Watch Great Britain in action on Sunday against Germany in their final group game of Women’s EuroBasket LIVE on GB Basketball TV.