Qonto plans to invest 100 million euros in Germany
The fintech also plans to hire 100 new employees in Germany.
Fintech Qonto has raised €486 million through its current funding round, giving it a valuation of €4.4 billion. This will also benefit its German business: the company plans to invest 100 million euros in Germany in the coming years and hire 100 new employees here by 2023. After France, the German market is the "fastest growing market for Qonto," says Torben Rabe, head of Germany, to the Handelsblatt.
The startup's offering is aimed primarily at small and medium-sized businesses and the self-employed, who can use services such as the digitization of invoices and accounting in addition to bank accounts. According to Handelsblatt, no digital bank focused on business customers is as valuable in Europe as Qonto.
Rabe tells Handelsblatt that Qonto now has 200,000 corporate customers. The fintech also aims to find 75 percent of its new customers outside of France by 2025.
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