Qonto, a Paris, France-based challenger bank for SMEs and freelancers, raised €104m in Series C funding.
Backers included new investors Tencent and DST Global, and existing investors Valar, Alven, Taavet Hinrikus and Ingo Uytdehaage.
The company intends to use the funds to expand in France, Italy, Spain and Germany, expand operations and add functionalities to its platform.
Co-founded in 2016 and launched in 2017 by Steve Anavi and Alexandre Prot, Qonto is a mobile bank used by more than 65,000 companies to get tools such as streamlined account opening, day-to-day user experience, unlimited history, accounting exports, expense management feature, real-time notifications, user right management system, visibility on cash-flows via smart dashboards, transactions auto-tagging, and cash-flow monitoring.
The company currently has a team of more than 200 people in Paris.