Qonto, a Paris, France-based next generation bank for entrepreneurs, raied $1.7M in seed funding.
The round was led by Alven Capital with participation from Valar Ventures, the venture capital fund backed by Peter Thiel, and business angels.
The company intends to use the funds to continue to develop the solution.
Started by Alexandre Prot and Steven Anavi, Qonto provides an online banking service that allows entrepreneurs and startups to create an account in less than 5 minutes, instantly receive an IBAN and get started to manage the company’s physical and digital business cards and perform their day to day operations.
The company will enter into beta phase in March and become available to a broader audience by the summer.