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.
Tiger Global and TCV are leading today’s funding round. With 220,000 clients, Qonto still plans to grow at a rapide pace in the coming years. “Our goal is to reach one million SMEs by 2025,” co-founder and CEO Alexandre Prot told me. “And we know that Tiger and TCV have supported quite a few compa …
