Funding round
Qonto Seed
Qonto, which works in business banking account services in Paris, raised $1.7M in a Seed round announced on 20 Jan 2017, led by Alven. 2 firms took part. It is Qonto's first venture round on record.
$1.7M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Qonto did not disclose a valuation in this round. It is Qonto's first venture round on record, 1 year after it was founded in 2016. It is under 1% of the $575M Qonto has raised in the venture rounds on record. Qonto raised again 20 months later: a Series B round of $23M in Sep 2018. Its next priced round, a Series D in Jan 2022, valued it at $5.00B.
Investors
Who put money in
Alven led the round with 1 other firm.
Lead investor
- backs 69 venture-backed companies new investor
Also in the round
- Valar Ventures backs 56 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
18 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $2.1M, and this round was 81% of the median. The closest in time, other companies' Seed rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 25 Dec 2016 | $3.7M | not disclosed | Speedinvest |
| Payment Processing & Point of Sale | 19 Dec 2016 | $1.3M | not disclosed | not named |
| Payment Processing & Point of Sale | 16 Feb 2017 | $1.3M | not disclosed | Connect Ventures |
| Payment Processing & Point of Sale | 1 Oct 2016 | $2.3M | not disclosed | not named |
| Payment Processing & Point of Sale | 19 Sep 2016 | $2.6M | not disclosed | not named |
| Greenlight Payment Processing & Point of Sale | 2 Jun 2017 | $7.5M | not disclosed | Relay Ventures |
| Wave Payment Processing & Point of Sale | 5 Aug 2016 | $2.5M | not disclosed | not named |
| Payment Processing & Point of Sale | 8 Aug 2016 | $1.0M | not disclosed | James R. Heistand |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Qonto raise in its Seed round?
Qonto raised $1.7M in its Seed round, announced in Jan 2017.
Who led Qonto's Seed round?
Alven led it, with Valar Ventures.
What was Qonto's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Payment Processing & Point of Sale?
18 Seed rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $2.1M, and this round was 81% of the median.
Did Qonto raise again after this round?
Yes: a Series B round in Sep 2018 of $23M.