The acquisition comes as Qonto pursues its ambition of onboarding 1m European SMEs and freelancers by 2025. Founded in 2017, Berlin-based Penta offers a suite of banking, budgeting and bookkeeping tools for small and medium-sized enterprises (SMEs) within Germany. The acquisition will bring 50,000 customers across from Penta, added to the 250,000 clients that Qonto currently has across France, Germany, Italy and Spain.
“When Steve Anavi and I founded Qonto in 2016, we had the ambitious goal of simplifying everyday banking for SMEs and freelancers across Europe,” explains Qonto CEO Alexandre Prot. “Today, we’re already present in four European markets and, while I’m very proud of what we’ve achieved so far, we want to go even further. The natural next step was to join forces with Penta. We are thrilled to welcome the Penta team onboard. Together we’re going to be the finance solution of choice for 1mn European SMEs and freelancers by 2025.”