200 million euros probably paid for Penta takeover

The Berlin-based fintech was acquired by its competitor Qonto in July. The purchase price was previously unknown.

After the Berlin-based banking start-up Penta was acquired by its French competitor Qonto in July, the purchase price was initially not disclosed. However, extracts from the French commercial register should now provide more insight into the deal. According to them, around 200 million euros were paid for the takeover, as reported by Finance Forward and financial scene report.

According to the two financial portals, the Penta shareholders are said to have received Qonto shares worth 179 million euros. Employees are also said to have been paid out, adding up to a total of around 200 million euros.

Penta was acquired by Berlin-based company builder Finleap in 2019. The purchase price at the time was 400,000 euros. In a financing round in spring 2020, the commercial banking start-up had already been valued at 65 million euros. In the summer of last year, Penta was valued at 170 million euros in another financing round, as reported by Finance Forward.

Since former Deutsche Bank digital boss Markus Pertlwieser became CEO in 2021, the fintech's customer base has doubled to 50,000 customers - despite the free account being discontinued. Pertlwieser will now help with the integration of Penta into Qonto, but will not take on a management role afterwards, as Finance Forward writes. Accordingly, he will only act as a "strategic advisor to the management".

Qonto wants to expand its presence in the German market with the acquisition of the start-up, which develops banking solutions for small and medium-sized enterprises (SMEs). The French business account provider for freelancers and SMEs raised 486 million euros in a financing round at the beginning of the year.