Valar Ventures and Alven Capital in $1.7m round for Qonto

Although Qonto is yet to launch its product, the funding is intended to help the startup develop its platform, aiming for a release in April.

The startup is also said to be looking to associate itself with other finance platforms, such as Treezor, to add new features to its platform such as cross-border payments and cash management.

New York-based Valar recently provided funding for N26, another startup focusing on the personal banking sector.

Company
Founded in April 2016, Qonto is a Paris-based startup developing a platform through which business owners and entrepreneurs can obtain a current account and MasterCard cards in less than five minutes.

The platform, which is still at development stage, will support payment and money receipt via IBAN, physical cards and digital cards.

Product launch is planned for April this year.

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• Topics
• Expansion
• France
• Financials
• France
• Venture
• Alven Capital