Launch year: 2016
Country: France
Funds raised: $140 million in total

Qonto online B2B bank for SME’s & Freelancers

Concept description

Qonto (previously FinPal) is the leading french B2B online bank for freelancers and SME’s

Qonto was also the first mover into this space being certified by the ACPR to run a full online B2B bank. It was joined since then by other actors such as Bunq & Shine.

After its last funding round ($115 million) lead by Tencent & DST Global, the startup became the biggest French Fintech.

This funding allows the startup to expand all over Europe according to its initial plan. Qonto is already present in France, Italy, Spain, Germany, and the UK.

In France (their historical market) the company could attract more than 60K customers (SME’s and Freelancers) for an average revenue of 32M€

Value proposition

Unlike N26, Revolut, and other leading online banks, Qonto is available to any company despite its status and size, however, a clear focus on SME’s was chosen by the management.

Qonto frech leading online B2B Bank
Qonto the neo-bank for Freelancers and SME’s

The platform integrates a full set of features to fit all the daily financial management of a company.

For example, tax & VAT management,  employees’ professional expenses monitoring are included.

The bank has 3 offers to cover all the needs:

  • Freelancers (starting from 9€/month)
  • SME’s (starting from 29€/month)
  • Business incorporation (starting from 120€/year)

After accepting SEPA transfers only for a while, Qonto just integrated Swift wire allowing clients to send and receive international payments.

Illustration (Video)

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