Business banking startup Qonto raises $552 million at $5 billion valuation
French startup Qonto has raised a $552 million Series D funding round (€486 million). Following this investment, the startup has reached a valuation of $5 billion (€4.4 billion). This is one of the largest rounds in the French tech ecosystem.
Qonto is a challenger bank focused on business bank accounts. The startup focuses primarily on small and medium companies as well as freelancers. It currently operates in France, Germany, Italy and Spain.