Qonto

In April 2016, Qonto launched a bank account for business clients and was the first of its kind in France. The fintech’s project aims to help businesses and entrepreneurs easily and quickly open a business account, obtain payment cards and accounting services.

In 2019, Qonto announced it was extending its services to Italy, Spain and Germany.

In 2021, Qonto became a unicorn (a company valued at over 1 billion dollars).

Key market data

• In Europe, the segment of the SME bank account market is valued at 30 billion euros.
• In Europe there are more than 23 million SMEs.
• Qonto raised 10 million euros in 2017 and 20 million in 2018.
• In 2020, Qonto served more than 100,000 clients.

The problem identified by Qonto

• Qonto used Treezor’s API and its Electronic Money Institution license
• Qonto launched a fully digital offer for entrepreneurs and SMEs
• Management of the entire regulatory part.
• Management of the core banking, processing and incoming and outgoing payments.
• Creation and management of wallets, IBANs and issuing of payment cards.