Qonto, a neobank based in France, recently raised $552M to expand its small business and freelancer banking services. The round was led by Tiger Global and TCV, two prominent private equity firms in fintech. After this latest funding round, the company is now valued at $5B, and boasts 220,000 customers. The company believed the funding was necessary to catalyze growth and expand its European user base to 1 million by 2025.
Qonto Valued at €4.4bn After French Fintech Funding Record