Qonto and Pennylane: French fintech friends and foes
Qonto and Pennylane are two of France's most well-known fintech disruptors. The Paris-based fintechs set out to disrupt particular areas of finance: Qonto- SME banking; and Pennylane- accounting softw... Qonto and Pennylane executives talk about their businesses and plans for rest of 2026.
Key Takeaways
- Fintech Qonto and Pennylane: French fintech friends and foes Qonto and Pennylane executives talk about their businesses and plans for rest of 2026.
John Reynolds 2 hours ago Share Share Send email Copy link Qonto and Pennylane are two of France's most well-known fintech disruptors.
- On top of its core business banking offering, it now offers SMEs and freelancers corporate cards, bookkeeping tools, expense management and short-term financing in a single hub.
Its focus is on the EU market, operating across France, Germany, Italy, Spain, the Netherlands, Belgium, Portugal, and Austria.
- She says Qonto has had "positive feedback" from the regulators and is hoping to get the green light within six months.
If successful, it will allow Qonto, which currently operates under a Payment Institution licence, to offer its own credit products, such as lending.
- But the reality is that each of us is addressing a bigger market, which is going after traditional players.
" However, the two fintechs do compete against each other and are going head-to-head as they compete for business when mandatory electronic invoicing for B2B transactions comes into force in France in September.
- " On the potential threat to Qonto from a new wave of fintechs, she said: "For us, being positioned on the banking side, which is a regulated industry, we are seeing fewer threats compared to the SAAS players.
Stats & Key Facts
- #Qonto Qonto boasts more than 600,000 SME and freelance customers across Europe, where it takes on incumbent financial players.
- #It was last valued at $5bn in a 2022 $552m funding round , led by Tiger Global and TCV.
- #Philippine Rougevin-Baville, Qonto's managing director for Western Europe, says Qonto runs an 80-20 model, which means that 80 per cent of the product is the same in each market it enters, with a 20 per cent difference.
Qonto and Pennylane executives talk about their businesses and plans for rest of 2026. Fintech Qonto and Pennylane: French fintech friends and foes Qonto and Pennylane executives talk about their businesses and plans for rest of 2026. John Reynolds 2 hours ago Share Share Send email Copy link Qonto and Pennylane are two of France's most well-known fintech disruptors.
The Paris-based fintechs set out to disrupt particular areas of finance: Qonto- SME banking; and Pennylane- accounting software for SMEs. Qonto, founded in 2016, four years before Pennylane, is the bigger name in France, yet Pennylane is fast-rising. Backed by the likes of Sequoia and Tiger Global, both have hoovered up hundreds of thousands of customers.
eu spoke to executives from Qonto and Pennylane to get a progress report on their respective fintechs and ask whether they saw themselves as competitors. Qonto Qonto boasts more than 600,000 SME and freelance customers across Europe, where it takes on incumbent financial players.
For more details please read the original article at Tech.eu.
Continue Learning
Comments
Sign in to join the conversation