Qonto (the commercial name of Olinda SAS) has topped 500,o00 customers, according to a note from the firm. Qonto is a licensed payment institution authorized by the French Autorité de Contrôle Prudentiel et de Résolution (ACPR). The company partners with regulated banks such as Crédit Mutuel Arkéa or Natixis.
Qonto is a European neobank targeting the SME sector. Beyond expected banking services, Qonto provides automated tools that seek to help companies better manage their accounting and expenses.
The half a million customers include businesses in Spain, France, Germany and Italy.
Qonto shares that since its launch in France in 2017, it has enabled the creation of 200,000 companies across Europe.
Alexandre Prot, CEO & co-founder of Qonto commented on the milestone:
“When we founded Qonto with Steve Anavi in 2016, our goal was to create the business finance solution that we dreamed of as entrepreneurs. Today, I’m thrilled that we made day-to-day banking and finances easier for 500,000 businesses across Europe and that we already enabled the creation of 200,000 businesses. But we don’t intend to stop here: Our team of 1,600 Qontoers – which recently welcomed the Regate team – will continue to drive innovation to provide even more value to European businesses and accountants.”