Qonto brings out its digital bank accounts for small companies

Friday 7 July 2017 09:06 CET | News

French startup Qonto has raised another USD 11.3 million (EUR 10 million) from existing investors Valar Ventures and Alven Capital. 

The company is now also open for business. You can now create a French business bank account on the company’s website.

Qonto aims to put users in charge of their account. For EUR 9 per month, users get a MasterCard, a French current account with an IBAN to receive payments and the ability to manage transfers and debits. More than that, Qonto lets customers manage their user base in the mobile app and on the site.

Users can block and unblock cards from the app, change the PIN code and get real-time notifications for each transaction. Administrators can adjust card limits and share transaction information with accountants.

Other features are coming soon, such as an easy workflow to upload receipts and attach them to a particular expense — accountants are going to love this. Qonto will also make it easier to handle transfers in multiple currencies. In the future, users will be able to connect their Qonto account with various fintech services you might also be using, such as Stripe, PayPal and GoCardless. This way, they’ll be able to monitor and manage payments on all sorts of platforms from a single, unified interface.

Behind the scene, Qonto partnered with Treezor for the back end. Treezor is the company that is actually managing the money. It generates current accounts and debit cards for Qonto. On the other side of the equation, Qonto tailors the experience and handles the relationship with its own customers.

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Keywords: Qonto, digital bank, accounts, SMEs, investment, mobile app, mobile banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech