Quonto collects an investment Series D for 486 million euros and plans to invest 100 million euros in Italy in the next two years.
Quonto announced that it had raised an investment round Serie D worth 486 million euros, which brings its valuation to 4.4 billion euros.
The round, reported by fintech, is jointly led by new investors Tiger Global and TCV, as well as eight new subscribers: Alkeon, Eurazeo, KKR, Insight Partners, Exor Seeds, Guillaume They will join current investors Valar, Alven, DST Global and Tencent, who have renewed their support to Qonto by participating in this new investment round.
Since its launch in 2017, Qonto has been working to build an all-in-one financial solution for SMEs and professionals and currently counts over 220,000 business customers in four markets (France, Italy, Germany and Spain).
With the new investment round, Qonto’s ambition is set at 1 million SMEs and professionals in Europe by 2025.
In the last year, Qonto has experienced strong growth in Italy, its second largest market after the French market, with a customer growth of 145% in 2021 compared to 2020. Since its launch in May 2019, Qonto has developed over 30 functionalities for the Italian market and signed 17 partnerships at local level, to provide SMEs and Italian professionals with solutions tailored to their needs and offer customers a complete range of services, from digital business banking to accounting tools
In 2020, Qonto launched the Italian IBAN and in May 2021, with the implementation of the functionality for the payment of F24 in debt and credit, it was able to replace the traditional bank account for SMEs and professionals.
In 2021 Qonto’s revenues in Italy quadrupled compared to 2020 and the number of Italian customers grew by +145% year-on-year, reflecting the growing demand for digital financial services by Italian companies, accelerated by the outbreak of the pandemic.
In 2021 the company opened local offices in Milan, Berlin and Barcelona, to completely adapt its offer to each market and consolidate its presence in local ecosystems, promoting the development of partnerships.
Quonto will further accelerate its growth in Europe, investing over 100 million euros in each market (Italy, Germany and Spain) over the next two years.
Qonto also plans to strengthen its European leadership by entering new markets by 2023 and acquiring 75% of new customers outside France by 2025.
Mariano Spalletti, Country Manager Italia of Qonto, points out in the note that the Our roadmap towards this goal is very clear: in the next two years we will invest over 100 million euros in Italy, which will allow us to recruit the best talents and focus on the development of products and services tailored to the needs of SMEs and Italian professionals.
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