Total amount raised
$709.5 Millions
Latest funding date
8/1/2022
Location
Qonto has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive suite of financial tools tailored for small and medium-sized businesses and freelancers.
Keep reading to delve into the details of Qonto's funding journey and discover the key investors supporting this innovative financial technology company.
What Is Qonto?
Qonto, founded in April 2016 by Alexandre Prot and Steve Anavi, is a financial technology company based in Paris, France. The company provides online banking services tailored for small and medium-sized businesses and freelancers.
Qonto offers a range of financial tools, including business accounts, payment cards, invoicing, expense management, and accounting solutions. Their platform aims to simplify daily banking and streamline financial operations.
With a team of over 500 employees, Qonto continues to grow, providing innovative financial solutions to support business growth and efficiency.
How Much Funding Has Qonto Raised?
- Seed Round
- Amount Raised: €1.6M
- Date: January 2017
- Lead Investors: Alven, Valar Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial product offering.
- Series A
- Amount Raised: €10M
- 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: $23M
- 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: €104M
- Date: January 2020
- Lead Investors: DST Global, Hedosophia, Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and improve customer experience.
- Series D
- Amount Raised: €486M
- Date: January 2022
- Lead Investors: TCV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand internationally and develop new financial products.
- Equity Crowdfunding
- Amount Raised: €5M
- Date: April 2022
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage with customers and raise capital for further growth.
- Venture Round
- Amount Raised: $200K
- Date: August 2022
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and minor expansions.
Total Amount Raised: $1.1B
Current Valuation: Not publicly disclosed
Key Investors
- Alven
- Details: Alven is a venture capital firm based in Paris, France. They focus on early-stage investments in technology-driven companies.
- Investment Focus Areas: SaaS, fintech, e-commerce.
- Notable Investments: Dataiku, Algolia, Stripe.
- Valar Ventures
- Details: Valar Ventures is a New York-based venture capital firm co-founded by Peter Thiel. They invest in transformative technology companies globally.
- Investment Focus Areas: Fintech, SaaS, consumer internet.
- Notable Investments: TransferWise, N26, Xero.
- DST Global
- Details: DST Global is a venture capital and private equity firm founded by Yuri Milner. They focus on late-stage investments in internet companies.
- Investment Focus Areas: Internet, e-commerce, social media.
- Notable Investments: Facebook, Airbnb, Spotify.
- TCV
- Details: TCV (Technology Crossover Ventures) is a private equity and venture capital firm. They invest in growth-stage technology companies.
- Investment Focus Areas: Software, internet, fintech.
- Notable Investments: Netflix, Spotify, Airbnb.
- Tencent
- Details: Tencent is a Chinese multinational conglomerate. They are known for their investments in internet-related services and products.
- Investment Focus Areas: Social media, gaming, fintech.
- Notable Investments: JD.com, Epic Games, Tesla.
What's Next for Qonto?
Qonto's recent crowd investing round, which raised €5 million in just six and a half hours, highlights the immense opportunity for growth by engaging its customer base. This approach not only strengthens customer loyalty but also opens doors for future rounds, potentially with higher limits if regulations evolve. The fintech industry is seeing a surge in demand for real-time financial management tools, positioning Qonto well to capitalize on this trend.
Future fundraising could see Qonto exploring traditional venture capital or private equity funding, alongside strategic partnerships with other fintech firms. However, challenges such as maintaining customer trust, navigating regulatory changes, and facing stiff competition from other fintech companies remain. As Qonto continues to innovate and expand, these hurdles will need careful management to sustain its growth trajectory.
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