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Qonto plans to move Penta customers to its platform by the end of 2023


Last year, French startup Qonto acquired its German competitor Penta. Both companies offer business bank accounts for small and medium companies as well as freelancers. Today, Qonto shared some details about the integration process.
At the time of the acquisition, Penta was serving 50,000 companies in Germany while Qonto had 300,000 customers in France, Spain, Italy and Germany. While Penta is no longer accepting new customers, new German companies looking for a bank account can sign up to Qonto directly.
As for existing customers, Qonto now expects to move all Penta customers to Qonto’s banking platform by the end of 2023. Once this is done, the company will operate under a single brand — Qonto.
Similarly, there are some internal changes. The Qonto and Penta teams are going to merge with Penta’s c …

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