Qonto raises 10 million euros to expand in Europe

by bold-lichterman

Qonto, the B2B online bank, announces a second round of funding of 10 million euros, led by Valar Ventures and Alven Capital. The start-up has already carried out a first fundraising of 1.6 million euros last January. The purpose of this investment was to support the development of the tool.

Created in 2016 by Alexandre Prot and Steve Anavi, Qonto is an online banking account for SMEs, start-ups and self-employed. The company offers its service from 9 euros per month. The price increases according to the number of cards requested and the number of transfers made during the month.

Official launch in July 2017

Since March 2017, Qonto has been in beta test. About 150 companies were able to test it and give the first feedback. The company must in particular rework its accounting integration and possible gateways between other software.

On the market, the start-up must in particular face the German N26 which focuses on individuals, or the start-up Monaize whose bank account is intended for the self-employed.

The official launch of Qonto is scheduled for July 2017. It is to this end that the company has carried out this second fundraising. Its main purpose is to help develop the offer in France and in Europe. “The idea of ​​this roundtable is to give us the means to achieve our ambitions, that is to say to offer the best banking service for small businesses in Europe.», Explains Alexandre Prot, co-founder of Qonto.

Founders: Alexandre Prot and Steve Anavi

Creation date : 2017

Seat : Paris

Activity: online bank

Competitors: N26, Monaize …

Funding: 1.6 million euros in January 2017, 10 million euros in July 2017