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Home»Fintech»Qonto sets sights on acquisition of Penta
Fintech

Qonto sets sights on acquisition of Penta

July 23, 2022No Comments2 Mins Read
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Qonto sets sights on acquisition of Penta
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Qonto, on-line cost resolution focused at freelancers and SMEs, has introduced its intention to accumulate German fintech, Penta. The deal is predicted to shut inside the subsequent few weeks.

Qonto goals to mix its wider attain and core banking system with Penta’s information of the German market. Each corporations have ambitions to create larger worth merchandise for his or her customers and increase their markets.

Penta is an rising neobank for freelancers, sole proprietors, and SMEs, and Qonto views its acquisition as the subsequent logical step in strengthening the route of its digital banking options in Europe. Each corporations had been based in 2017, monitoring spectacular development since inception. In 2021, Qonto achieved 170% YoY buyer development.

Alexandre Prot, Qonto CEO, commented: “When Steve Anavi and I based Qonto in 2016, we had the formidable aim of simplifying on a regular basis banking for SMEs and freelancers throughout Europe. Right now, we’re already current in 4 European markets and, whereas I’m very pleased with what we’ve achieved to date, we need to go even additional: the pure subsequent step was to affix forces with Penta. We’re thrilled to welcome the Penta group onboard. Collectively we’re going to be the finance resolution of alternative for a million European SMEs and freelancers by 2025!”

Markus Pertlwieser, CEO of Penta, acknowledged: “Lukas Zörner and his co-founders have written an actual fintech success story. With the mix of accelerating buyer numbers and rising revenues, we’ve gained much more substance up to now 18 months. We’re very excited that we now have the prospect to actively form digital banking for enterprise prospects in Europe as a group with Qonto.”

See also  Bank of Ireland sets scientifically-validated greenhouse gas emission reduction targets

In April 2022, Qonto raised €5 million in a crowdfunding marketing campaign with a aim of solely €1 million to realize shareholders and develop their product. In Might, the corporate partnered with cryptobank Coinhouse to supply SMEs and freelancers the chance to spend money on digital property.

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