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 euros in its latest financing round, giving it a valuation of 4.4 billion euros. This will also benefit the German business: the company plans to invest 100 million euros in Germany in the coming years and hire 100 new employees in Germany by 2023. After France, the German market is the "fastest growing market for Qonto", says Torben Rabe, Head of Germany, to the Handelsblatt.
The start-up's offering is aimed primarily at small and medium-sized companies and the self-employed, who can use services such as the digitalization of invoices and accounting in addition to their bank account. According to Handelsblatt, no digital bank that focuses on business customers is as valuable in Europe as Qonto.
Rabe tells Handelsblatt that Qonto currently has 200,000 corporate customers. The fintech also aims to find 75 percent of new customers outside France by 2025.
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