Eurazeo, KKR-backed Qonto announces Record-breaking fundraising of €486m valuing the company at €4.4bn

Jan 12, 2022 | News

Qonto, a European business finance solution, announced that it has raised €486m in PE-backed funding, bringing Qonto’s valuation to €4.4 billion.

With this fundraising – one of the largest ever in French history – Qonto sets a new record valuation for a French scale-up. This latest round is jointly led by new investors Tiger Global and TCV, in addition to eight other new contributors: Alkeon, Eurazeo, KKR, Insight Partners, Exor Seeds, Guillaume Pousaz, Gaingels and Ashley Flucas. They will join current investors Valar, Alven, DST Global and Tencent who are all renewing their support by participating in this new funding round.

Since its launch in France in 2017, Qonto has been committed to building the first all-in-one finance solution for SMEs and freelancers. Qonto simplifies everything from everyday banking and financing to bookkeeping and spend management, allowing its customers to focus on what truly matters. The company currently has more than 220,000 clients across four markets (France, Germany, Italy, and Spain). With this new funding round, Qonto’s ambition is to become the finance solution of choice for 1 million European SMEs and freelancers by 2025.

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John Curtius, Partner at Tiger Global, said “Qonto has revolutionized business finance for SMEs and freelancers by marrying simplicity with a unique all-in-one service. The company has seen a significant increase in clients across its European markets during the coronavirus pandemic. This also shows that customers’ needs are evolving during these unprecedented times. We have tracked Qonto’s incredible growth for some time and are delighted to partner with the entire Qonto team and support their mission to serve a rapidly growing European market.

“We at TCV love to back visionary founders and could not be more excited to partner with Alexander, Steve and the rest of the Qonto team”, said John Doran, General Partner at TCV. He continued “We look forward to supporting them as they continue to bring best-in-class banking and finance solutions to millions of SMEs and freelancers across Europe.”

Source: Market Screener

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