Qonto Expands Across Europe to Support SMEs and Freelancers

Qonto, a business finance solutions provider, has announced its expansion into several European markets, with a focus on strengthening its regional presence. This strategic move will enable small and medium-sized enterprises (SMEs) and freelancers in Austria, Belgium, the Netherlands, and Portugal to access Qonto’s financial tools and services, helping them optimize their operations while the company bolsters its footprint across Europe.

Since its inception, Qonto has been dedicated to simplifying business banking by offering an online business account integrated with various financial tools, including invoicing, bookkeeping, and spend management. The current expansion aligns with Qonto’s mission to meet the needs and preferences of SMEs and entrepreneurs in these regions, as the company aims to become the go-to business finance solution for European SMEs and freelancers by 2026. According to Qonto, small businesses and freelancers make up 99% of companies in Europe and provide 100 million jobs across the EU. Yet, many still struggle with accessing adequate finance and banking services.

By expanding into Austria, Belgium, the Netherlands, and Portugal, Qonto intends to help businesses scale efficiently and improve operational productivity. This decision follows extensive research, including studies, surveys, reports, and interviews with local SMEs and freelancers. Qonto also collaborated with local stakeholders, such as chambers of commerce and fintech associations, to tailor its offerings to the specific needs of each market.

This expansion comes on the heels of Qonto’s successful launch in France, Germany, Italy, and Spain. In addition to scaling its operations, Qonto has been forming strategic partnerships to enhance its services. One such collaboration, announced in June 2024, is with Wise, aimed at improving international payment services for over 500,000 SMEs and freelancers across Europe. This partnership seeks to simplify and expedite cross-border transactions, addressing issues like slow processing times, complexity, and high costs that businesses often face.

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