October has been providing financing to Qonto, Europe’s financial management company, for almost two years now.
Integrated directly via API with the Qonto platform, October “analyzes customer requests in a few clicks to provide them with an instant loan offer.” With over 40,000 active retail lenders on the October platform, loans are “funded in just 4 days.”
October has already “financed many of Qonto’s customers in France and Italy.”
To meet the diverse financing needs of its customers, Qonto is now “diversifying its financing offering with its new platform.” This launch is “another important step for Qonto in its drive to become the all-in-one financial management solution for European SMEs.”
With these different partner offerings, Qonto customers in France can now “access different types of financing offers, with flexibility in terms of amount and repayment terms.”
As explained in a blo post, October is “designed for small and medium-sized businesses in all industries.” It is reportedly “the only solution available on Qonto that offers a 24-month loan, allowing small businesses to reduce their monthly payments and relieve their cash flow.”
With October, Qonto customers “can easily borrow up to 30,000 euros in just a few clicks.”
They receive “an instant loan offer generated by our scoring model based on bank transaction analysis and automated fraud detection.” The funds are then “made available to their Qonto account in just 4 days.”
Patrick de Nonneville, co-founder and CEO of October, said,:
“With its integrated offering with the Qonto app, October has made affordable long-term loans available to small and medium-sized businesses in just a few clicks. We are proud to have already financed many Qonto customers in France and Italy, and this is just the beginning.*
With Qonto, October have “set up eligibility rules that meet the financing needs” of French SMEs:
- Qonto customer: for at least 12 months
- Turnover: financial inflows equivalent to at least €100,000 over the last 12 months on the Qonto account (excluding transfers between sub-accounts of the same company)
- Financial liabilities: company up to date with its payments and no collective proceedings against the associates during the last 5 years
- Accepted legal forms: Commercial companies (SAS, SASU, SA, SARL, EURL) and SCI
- Headquarters: Metropolitan France (Monaco and overseas territories are not accepted)
If you’d like to find out how Solarian’s financing on October via Qonto came about, then check here.
