In a recent development, French startup Qonto has raised around €19 million in funding in its latest Series B round for their fintech product. The latest funding came from its existing shareholders, Valar and Alven Capital, and a new investor, European Investment Bank (EIB) Group. As per the company press release, this is supposedtly the largest round of funding for a French digital banking startup till date.
Around €19 million raised: How will it help?
Reportedly, the company is trying to make business banking cheaper, faster and more efficient. Relatively, with the latest funding, Qonto plans to expand internationally in the European market and also plans to strengthen its position in the French market.