4 years ago

Qonto Raises $551M in Series D, Valuation Reaches $4.9B

  • French fintech company Qonto has raised $551.2 million in a Series D funding round led by Tiger Global and TCV, with participation from existing investors like Tencent

  • The funding brings Qonto's valuation to $4.9 billion

  • The company plans to use the funds to expand its staff, client base, product offerings, and geographic reach

  • Qonto will invest $113.4 million in Germany, Italy, and Spain over the next two years and plans to enter new markets in 2023

  • The company currently has 220,000 clients across four countries and aims to reach 1 million SME and freelancer clients by 2025.

      • ProblemFinancial Services

      "Small and medium-sized enterprises (SMEs) and freelancers often lack access to efficient and user-friendly financial management tools."

      Solution

      "Qonto provides a comprehensive financial management platform for SMEs and freelancers, offering services such as bookkeeping, financial management, and payments through a convenient monthly subscription model."

      Covered on