Home FinTech French fintech startup Qonto raises Euro 486 million in Series D

French fintech startup Qonto raises Euro 486 million in Series D

France-based Qonto, a fintech startup that provides SMEs with all banking and financial services to make business more effective, efficient, and technology-driven, raised Euro 486 million on 11th January.

Investors: The investment was led by Tiger Global and TCV. In addition, several investors, including Alkeon, Eurazeo, KKR, Insight Partners, Exor Seeds, Guillaume Pousaz, Gaingels, and Ashley Flucas participated in the round. Existing investors, including Valar, Alven, DST Global, and Tencent, participated in the new round.

Purpose of funding: The startup will use the funding to continue developing new products in-house and launching new strategic initiatives, partnerships, and potential acquisitions. In addition to expanding internationally, the startup plans to enter new markets in Germany, Italy, and Spain. Additionally, the startup plans to hire fresh talent across all departments.

About Qonto

Founded in 2016 by Alexandre Prot and Steve Anavi, Qonto is located in Paris, France. Qonto is a fintech startup that provides SMEs with all banking and financial services to make business more effective, efficient, and technology-driven. The startup aims to build the first all-in-one finance platform for SMEs and freelancers. Using Qonto, customers can automate all aspects of banking and finance, including bookkeeping and spending management, allowing them to pay attention to what matters.  

What the founder has to say

“Since our launch in 2017, we’ve constantly strived to create the finance solution that energizes SMEs and freelancers, empowering them to achieve more. This new Series D funding round is an amazing opportunity for us to accelerate our hyper-growth trajectory by investing in our product, our customer service, and our power to attract new talents. This funding round reveals the incredible dynamism of the French and European Tech ecosystem. We count on policymakers to continue their efforts to ensure entrepreneurship can succeed, leading to European and global champions that deliver innovation. This is only the beginning of our journey to serve SMEs and freelancers best and we couldn’t be more excited about what the future holds for us and our ambitions. The Qonto team is honoured to welcome the most prestigious international investors to support our mission to become the leading business finance solution,” said Alexandre Prot, co-founder and CEO at Qonto.

What the investors have to say

“Qonto has revolutionized business finance for SMEs and freelancers by marrying simplicity with a unique all-in-one service. The company has seen a significant increase in clients across its European markets during the coronavirus pandemic. This also shows that customers’ needs are evolving during these unprecedented times. We have tracked Qonto’s incredible growth for some time and are delighted to partner with the entire Qonto team and support their mission to serve a rapidly growing European market,” said John Curtius, Partner at Tiger Global.

“We at TCV love to back visionary founders and could not be more excited to partner with Alexander, Steve, and the rest of the Qonto team, said John Doran, General Partner at TCV.

“We look forward to supporting them as they continue to bring best-in-class banking and finance solutions to millions of SMEs and freelancers across Europe.”


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Varun Nath writes about the startup ecosystem on VC Bay. A student at Delhi University, he is pursuing a Bachelor of Commerce degree. In pursuit of exploring the world of finance and technology. You can reach him at varunnath155@gmail.com

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