Written by: Top 8 Neo Banks Then came the Neobanks, a fully digital banks that offers pretty much everything the old traditional banks offers, with additional fresh features, and a revolutionary state of mind giving their customers full and instant control on their money and financial life. It's giving you full control on your money!
Company information
Founded in 2016 by Steve Anavi and Alexandre Prot, Qonto designed purely for the business market and simplified the banking and accounting of over 100,000 companies, SMEs and Freelancers.
Its mission is to "build the best banking service by using technology and design, with fair and transparent pricing!".
Since Qonto was launched in July 2017, it raised €136 million and acuired over 120,000 companies, and it is known as the 1st B2B neobank.
Pros & Cons
Pros:
Auto conducting VAT reconciliation.
International funds transfer in 18 currencies.
Suits for many types of business.
Good customer support.
Cons:
Only serve FR, ES, DE & IT registered business.
No business loans.
Who is it for
Qonto offers business accounts for freelancers, startups and SMEs, in replacement or in addition to their business banking account.
The Qonto current account is currently available to French, Italian, Spanish and German companies formed as a various legal entities. For more details, click here
Onboarding process
The application process is done entirely online and takes under 15 minutes. Once the documents are uploaded and confirmed, the account can be created in less than 1 business day.
Plans
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Key Features
Categorize expenses and automatically detect VAT
Accounting software (Qonto integrates with over 100 accounting tools)
No limit transaction history
Real-time notifications
Labels for tailor-made finance
Card with configurable limits
Bank transfer payments (unlimited for Qonto accounts)
Transfers in 18 foreign currencies
Travel Insurance
SEPA Direct Debit
Bottom Line
Qonto offers a great baking services and tools suits perfectly for cooporates, SMEs and freelancers needs.
Qonto's customers can save time and control their money in very convenient features: real-time notifications for better monitoring, rights and adjustable access for each employee, automatic categorization of transactions and cash flow management tables. They also benefit from exemplary customer service and fair, transparent prices
