On April 21, 2022, Qonto pulled off a masterstroke. The French fintech specializing in 2.0 banking services raised 5 million euros in just 6 hours and 30 minutes! Following its record-breaking fundraising of 486 million euros 4 months earlier, the neobank further confirms its position as one of France's leading unicorns.

A record-breaking 6.30 hours to raise funds

In April 2022, Qonto carried out the first opening of capital for a European unicorn. As a reminder, unicorns are start-ups start-ups valued in excess of 1 billion eurosbut which are not listed on the stock exchange.

Since its creation, Qonto has been known for its impressive fund-raising achievements. Prior to the April 20, 2022 round, which closed in 6.30 hours after raising 5 million euros, the start-up had raised the largest amount ever for a French unicorn in January 2022. With a Series D, 486 million euros had been raised to expand the company's presence and development on a European scale.

Funds raised from neobank customers

The April 20, 2022 fund-raising was not carried out within the same framework as previous ones. The aim here was to raise money from Qonto users. There were a number of reasons why the directors of this French unicorn decided to do this.

Initially, bringing customers into the company's capital is useful for strengthen relationships with them. This action helps to forge stronger links with those who use Qonto's services on a daily basis. It's a strong message sent by the company to reassure its customers and show them that they are important to the start-up.

The aim of the fund-raising was also to assemble a Europe-wide community of entrepreneurs.

Success in record time

The fund-raising was launched on April 20. The goal set by the start-up was to raise 1 million euros. After only 6 h 30, 1800 customers participated and raised 5 million euros. In no time at all, Qonto's initial target was far exceeded. This resounding success was achieved with the help of another platform well known to investors in Europe: Crowdcube.

It's a participatory financing platform platform that enables companies to raise funds from a large number of individuals, as well as from their customers. The latter can invest directly via this platform in the companies that interest them, and become shareholders in these companies.

Qonto, the successful neobank

Qonto is an online neobank created in 2017. It offers small businesses and the self-employed banking services designed to make their financial operations more flexible and easier. The start-up offers professionals a comprehensive suite of banking products and services including accounts, payment cards, online transfers and direct debits. The service is simple to use and offers 24/7 access to your funds.

In 2020, Qonto generated sales of around 20 million euros. In 2021, the start-up raised 50 million euros from investors such as DST Global and Accel. This injection of funds has enabled the company to strengthen its position as market leader in fintech in France, and to pursue its expansion in the French and European markets.

Qonto services

Qonto has set itself apart by offering a revolutionary revolutionary alternative to the "old school" of banking. It offers companies solutions that best meet their needs. Qonto offers professionals :

A reliable management tool An intuitive tool for managing company finances, with separate accounts for each department.
Simple bookkeeping Automation of invoices and direct debits, both in local and foreign currencies.
Fast transfers Real-time transfers and debit card payments at no extra cost for online transactions.

Qonto enables businesses to improve their banking processes while saving time and money. The service is designed to provide entrepreneurs, freelancers and SMEs with an easier, more flexible and secure solution than that offered by traditional banks.

Here is a non-exhaustive list of the services offered by Qonto:

Bank account management Qonto offers online business accounts with a free payment card.
Bookkeeping Qonto makes it easy to manage and monitor your company's accounting, with tools for tracking expenses, invoices and revenues.
Cheque issue Qonto offers the option of issuing cheques online, mailing them or printing them.
Payment and transfer management Qonto makes it easy to manage payments and transfers between accounts, as well as online and credit card payments.
Business travel management Qonto offers tools for tracking and reimbursing business travel expenses.
Team management tools Team management tools: Qonto offers team management tools such as absence and leave management, payroll management and more.

Who are Qonto's customers?

Qonto is primarily aimed at businesses and professionals who want to simplify their financial management and are looking for an online solution. The fintech mainly targets small businesses and the self-employed, but can also be used by larger companies.

By offering a complete range of online financial services, Qonto aims to become a trusted partner for businesses and professionals looking to optimize their financial management. Thanks to offers tailored to different needs and budgets, Qonto has won over a broad customer base and become one of the most popular fintechs in France.

Qonto's offers

Qonto offers several subscription formulas to suit customer needs and budgets. The start-up's main offerings include :

Basic package The basic package includes basic services such as bank account management, bookkeeping, cheque issue, payment and transfer management, etc. It is designed for small businesses and the self-employed who need basic financial management services. It is designed for small businesses and the self-employed who need basic financial management services.
Premium package Premium package: This package includes all the services of the basic package, plus additional functionalities such as business travel management, payroll and absence management, and more. It is designed for larger companies requiring team management and business travel management functionalities.
The Enterprise package The Enterprise package includes all the services of the Premium package, plus specific corporate functions such as expense management, cash management and cash flow forecasting. It is designed for large companies requiring advanced cash management functionalities.

These offers are flexible and can be customized to the specific needs of each customer. Qonto also offers packages tailored to the needs of the self-employed and auto-entrepreneurs.

Qonto: key facts

The workforce

In 2022, the French fintech sector had 900 employees spread across offices in several European cities, including :

Paris
Berlin
Milan
Barcelona
Belgrade

Sales figures

The company is available in 4 different markets and provides its services to over 300,000 customers. Sales in 2020 amounted to 19.8 million euros.

Going public

Although the start-up is valued at several billion euros, it has not yet gone public. listed on the stock market. Its last fund-raising round in April 2022 enabled its customers to acquire a stake in the company, but it is not possible for a private individual to invest in this company for the time being without a new fund-raising round.

Business and strategic objectives

Qonto's business and strategic objectives include :

Expanding its presence in the fintech market in France and Europe
Strengthening the relationship of trust with customers
Increasing profitability
Adapting to technological and regulatory developments

Scalability

As a fintech offering an online financial management platform, Qonto can benefit from a number of features that favor its scalability. In particular, it benefits from strong growth in the fintech market and the ability to develop its online activities without additional distribution costs.

These two factors, and the success of the various fund-raising campaigns, promise a bright future. bright future for this start-up!

Mantra/Citation CEO

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