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French fintech for SMEs Qonto achieves €4.4 billion valuation

French fintech for SMEs Qonto achieves €4.4 billion valuation

Qonto, the French scaleup offering a business account to European SMEs, has achieved a €4.4 billion valuation on a €486 million Series D funding round

Founded in 2017 by Steve Anavi and Alexandre Prot, Qonto serves more than 220,000 clients in four countries - France, Germany, Italy and Spain - and employs more than 500 staff in Paris, Berlin, Milan and Barcelona.

The company offers a one-stop shop for SME and freelance business finance, from everyday banking and financing to bookkeeping and spend management

The latest round is jointly led by new investors Tiger Global and TCV, joining current backers Valar, Alven, DST Global and Tencent. Since its creation, Qonto has raised a total of €622 million.

The company says the new funding will be deployed to explore acquisition opportunities, reinforce growth in existing markets while expanding further across Europe, and quadruple its team to more than 2,000 by 2025.

Alexandre Prot, co-founder and CEO of Qonto, comments: “This new Series D funding round is an amazing opportunity for us to accelerate our hyper-growth trajectory by investing in our product, our customer service and our power to attract new talents."

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