Qonto, has announced the acquisition of Penta, Germany’s leading B2B neobank. The agreement, which is expected to close in the coming weeks, materializes at a time of growth for both companies and is part of Qonto’s growth strategy, which aspires to be the financial solution of choice by one million SMEs and freelancers in 2025.
Founded in 2017, Penta is Germany’s leading digital business financing solution for small and medium-sized companies and the self-employed. The company services 50,000 clients in the German country and has 200 employees, which are mainly located in Berlin and Belgrade. In addition, it is one of the German Fintechs on the rise and has contributed significantly to the growing demand for digital financial solutions in the German country. In addition, the merger of these two companies with a shared mission, vision, culture and business model will mean the generation of value for SMEs and the self-employed at a higher speed not only in Germany, but also in the four markets in which Qonto is present. , among which is Spain.
Qonto’s brand, license and banking system, together with the expertise that Penta provides represents the perfect combination that will allow the French neobank to achieve its proposed objectives.
Since its creation in France in 2017, Qonto has been committed to building the leading all-in-one financial solution for SMEs and freelancers by simplifying and streamlining the management of their finances, from day-to-day operations to the management and collection of invoices in an automated way, accounting and expense management, allowing your customers to focus on what really adds value. Its founders, Steve Anavi and Alexandre Prot, have always had a vision of building a pan-European brand. Today, the company serves more than 250,000 clients in four markets (France, Germany, Italy and Spain) and employs more than 700 people.
The acquisition of Penta will allow Qonto to become the leader in the German market – the largest SME banking market in Europe – and further accelerate its profitability in all markets. The merger of both entities will result in the largest European financial solution for companies, with a total of more than 300,000 customers and 900 employees who will design the future of banking for companies.
According to Alexandre Prot, CEO of Qonto: «When Steve Anavi and I founded Qonto in 2016, we had the ambitious goal of simplifying daily financial management for SMEs and the self-employed across Europe. Today, we are already present in four European markets and, although I am very proud of what we have achieved so far, we want to go even further: the natural next step was to join forces with Penta. We are delighted to welcome the Penta team. Together we are going to be the financial solution of choice for one million European SMEs and freelancers by 2025.”
For his part, Markus Pertlwieser, CEO of Penta, has pointed out: «Lukas Zörner and his co-founders have written a true fintech success story. The combination of a growing number of clients and increased revenues has allowed us to become more solid during these last 18 months. We are very pleased to now have the opportunity, together with Qonto, to shape digital banking for European SMEs.”