Penta apparently facing sale to Qonto

According to industry insiders, a three-digit million sum could flow - in cash or shares. This would mean two competitors joining forces.

According to a media report by Finance Forward the Berlin-based neobank for business customers Penta could be about to be sold to its French competitor Qonto. The source cites industry insiders who are said to have stated that the deal has already been negotiated and could be announced soon. However, spokespersons for the companies did not wish to comment on the information.

The source also speaks of a three-digit million sum that would be paid for the takeover. However, it is not known whether it will be paid in cash or shares. Qonto is considered to be particularly well financed. In January, the company raised 486 million euros from Tiger Global and others. This was obviously a good time, because shortly afterwards many investors began to hold back on new investments.

The founders developed the idea for Penta in 2017: a business account that can be quickly opened digitally and is available a few hours later. The company now claims to have thousands of self-employed people and small and medium-sized enterprises (SMEs) as customers. Qonto was also founded in 2017. The company is now available in four countries (France, Spain, Italy and Germany) and employs more than 600 people. Since its inception, Qonto has received €622 million from Valar, Alven, the European Investment Bank, Tencent and DST Global. Neobank is also aimed at SMEs, start-ups and the self-employed and founders.