- European enterprise finance resolution firm Qonto is searching for to accumulate its competitor Penta.
- Collectively, the 2 will serve greater than 300,000 small enterprise clients throughout Germany, France, Italy, and Spain.
- Phrases of the deal haven’t been disclosed.
Two European enterprise finance resolution firms have agreed to affix forces. Within the deal, which is predicted to shut within the subsequent few weeks, Paris-based Qonto is searching for to buy Berlin-based Penta. Monetary phrases haven’t been disclosed.
“When Steve Anavi and I based Qonto in 2016, we had the bold purpose of simplifying on a regular basis banking for SMEs and freelancers throughout Europe,” stated Qonto CEO Alexandre Prot. “As we speak, we’re already current in 4 European markets and, whereas I’m very happy with what we’ve achieved thus far, we need to go even additional: the pure subsequent step was to affix forces with Penta. We’re thrilled to welcome the Penta workforce onboard. Collectively we’re going to be the finance resolution of alternative for a million European SMEs and freelancers by 2025!”
Penta launched in 2017 and now serves 50,000 small enterprise clients in Germany. Qonto launched the identical yr and presently serves greater than 250,000 shoppers throughout France, Germany, Italy, and Spain. The acquisition will mix Qonto’s model energy, license, and core banking system with Penta’s native experience.
Qonto is anticipating that Penta’s present market presence will strengthen its operations in Germany. The mixed entity will make Qonto a robust chief within the European digital enterprise finance sector. After the acquisition is full, the corporate may have greater than 300,000 clients and 900 staff.
“With the mixture of accelerating buyer numbers and rising revenues, we’ve gained much more substance up to now 18 months,” stated Penta CEO Markus Pertlwieser. “We’re very excited that we now have the prospect to actively form digital banking for enterprise clients in Europe as a workforce with Qonto.”
Photograph by MART PRODUCTION