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Qonto, a new professional account bank launched in France two years ago, has spread to Germany, after previous openings in Italy and Spain.
Qonto received the first investment from Valar Ventures from Peter Thiel in France during its Series A tour in 2017.
Online banking only for SMEs, the self-employed and startups offers expense management, corporate card issuance and treasury services to 65,000 international accounts.
In 2019, Qonto managed transactions worth € 10 billion, up from € 3.5 billion the previous year.
The service had already been smoothly launched in Germany in 2019, so that the first customers could test it out and provide feedback on their experience.
Philipp A. Pohlmann, Qonto Country Manager for Germany, says: “We conducted dozens of customer interviews to identify the needs of German businesses. Some special features, such as the ability to generate virtual cards that can be used in real time, download invoices also from your smartphone and switch to Premium cards with exclusive services are particularly popular. ”
Qonto now has more than 180 employees, more than half of whom are dedicated to international product development, as the company seeks to expand its business into European markets.
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