Total amount raised
$709.5 Million
Latest funding date
8/1/2022
Location
Qonto has successfully raised significant funding through 8 rounds, with backing from 22 investors, including Banca Sella Holding and Ilavska Vuillermoz Capital. The most recent funding round is categorized as a "Venture - Series Unknown" round.
Qonto offers a comprehensive suite of financial tools tailored for small and medium-sized businesses and freelancers, simplifying tasks like payment management, invoicing, and accounting. Keep reading to explore the intricacies of Qonto's fundraising journey and the investors backing this innovative platform.
What Is Qonto?
Qonto is a French FinTech company based in Paris, Ile-de-France, France. It provides professional banking services tailored for small and medium-sized businesses and freelancers. The company operates in the banking, financial services, fintech, payments, and software industries.
Founded in 2016, Qonto has grown significantly, employing between 1001 and 5000 people. The company offers a range of financial tools, including professional accounts, payment cards, invoicing solutions, expense management, and accounting integrations, emphasizing ease of use and comprehensive customer support.
How Much Funding Has Qonto Raised?
- Seed Round
- Amount Raised: EUR 1,600,000
- Date: January 2017
- Lead Investors: Alven, Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial product offerings.
- Series A
- Amount Raised: EUR 10,000,000
- Date: June 2017
- Lead Investors: Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform.
- Series B
- Amount Raised: USD 23,000,000
- Date: September 2018
- Lead Investors: Alven, Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and enter new markets.
- Series C
- Amount Raised: EUR 104,000,000
- Date: January 2020
- Lead Investors: DST Global, Hedosophia, Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and further develop the product suite.
- Series D
- Amount Raised: EUR 486,000,000
- Date: January 2022
- Lead Investors: TCV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify market leadership and expand internationally.
- Equity Crowdfunding
- Amount Raised: EUR 5,000,000
- Date: April 2022
- Lead Investors: Not applicable
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage customers and raise capital for growth.
- Series Unknown
- Amount Raised: USD 200,000
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic initiatives.
Total Amount Raised: USD 635,800,000
Current Valuation: Not publicly disclosed
Key Investors
- TCV
- Details: TCV is a leading growth equity firm that partners with technology companies. They have a history of investing in high-growth sectors and supporting companies through various stages of development.
- Investment Focus Areas: Technology, Internet, Software
- Notable Investments: Netflix, Facebook, Spotify
- DST Global
- Details: DST Global is a venture capital and private equity firm that focuses on late-stage investments. They are known for backing some of the most successful technology companies globally.
- Investment Focus Areas: Internet, Technology, FinTech
- Notable Investments: Facebook, Alibaba, Airbnb
- Hedosophia
- Details: Hedosophia is a venture capital firm that invests in technology companies. They focus on supporting innovative companies with the potential for significant growth.
- Investment Focus Areas: Technology, FinTech, Software
- Notable Investments: TransferWise, Revolut, Deliveroo
- Alven
- Details: Alven is a venture capital firm that invests in early-stage technology companies. They have a strong track record of supporting startups in their growth journeys.
- Investment Focus Areas: Technology, FinTech, SaaS
- Notable Investments: Dataiku, Algolia, Stripe
- Valar Ventures
- Details: Valar Ventures is a venture capital firm co-founded by Peter Thiel. They focus on investing in transformative technology companies across the globe.
- Investment Focus Areas: FinTech, Technology, Internet
- Notable Investments: TransferWise, N26, Xero
What's Next for Qonto?
Qonto's future looks promising with significant opportunities for growth in financial expense management for SMEs and the self-employed. The company's recent success in raising EUR 5 million through a crowd investing round highlights strong investor confidence and a robust customer base across Germany, France, Spain, and Italy.
Given the overwhelming response to the crowdfunding campaign, Qonto may explore further fundraising opportunities, potentially increasing the cap if regulations permit. This could involve partnerships with other investment platforms or venture capital firms, paving the way for substantial capital influx to support their expansion plans.
However, Qonto may face challenges such as regulatory limitations on crowdfunding amounts and competition from other fintech companies. Ensuring the security and reliability of their financial products will be crucial as they navigate these hurdles. Nonetheless, the growing demand for digital financial management solutions positions Qonto well for continued success.
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