15 December 2017
visit http://response.ncr.com

Thiel backs French biz banking startup Qonto

17 January 2017  |  6842 views  |  0 Team meeting

With a slate of stellar investors onboard, Qonto, a French digital business banking service for entrepreneurs and startups, is gearing up for launch.

The firm is planning to open its doors in April, promising clients the ability to join online within five minutes, getting a current account with an IBAN for sending and receiving payments, and physical and virtual Mastercard cards.

According to Les Echos, founders Alexander and Steve Anavi Prot decided to set up the company after running into barriers trying to get banking services for their previous startup, an electronic cigarette specialist.

They have secured EUR1.6 million in funding from Peter Thiel’s Valar Ventures and French investor Alven Capital, among others.

Local authorised e-money institution Treezor has been brought in to handle back office operations, with Qonto focussing on a front end designed to be simple, efficient and transparent.

Details on what that means are still hazy but the company's site says it will have a collaborative interface with specific logins for different types of users, validation workflow for spending and receipt upload, and automatic retrieval of online bills.
 

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

New UK mobile banking service for SMBs promises 3 minute account setup

New UK mobile banking service for SMBs promises 3 minute account setup

03 October 2016  |  9173 views  |  4 comments | 19 tweets | 15 linkedin
Thiel joins EUR6.5 million round in European startup Deposit Solutions

Thiel joins EUR6.5 million round in European startup Deposit Solutions

08 January 2016  |  6985 views  |  1 comments | 16 tweets | 5 linkedin
Number 26 gets EUR10m in funding from Peter Thiel's Valar Ventures

Number 26 gets EUR10m in funding from Peter Thiel's Valar Ventures

16 April 2015  |  8241 views  |  0 comments | 7 tweets | 4 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.solutions.lexisnexis.comvisit www.response.ncr.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
10306 views comments | 17 tweets | 25 linkedin
satelliteRipple completes XRP Lockup
9580 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9048 views comments | 17 tweets | 36 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
7654 views comments | 20 tweets | 11 linkedin
Australian Government amends AML rules to cover digital currenciesAustralian Government amends AML rules to...
7262 views comments | 15 tweets | 24 linkedin

Featured job

Competitive package
New York City, NY - USA

Find your next job