Funding round
Qonto Series D
Qonto, which works in business banking account services in Paris, raised $550M in a Series D round announced on 10 Jan 2022, led by Tiger Global and Technology Crossover Ventures, at a $5.00B post-money valuation. 20 firms took part, 1 of them already investors, with 8 individual investors. It is Qonto's third venture round on record; the one before was a Series B in Sep 2018.
$550M
Amount raised
486,000,000 EUR converted
$5.00B
Post-money valuation
$4.45B pre-money
20
Investors
2 leads
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Qonto at $5.00B after the new money. The $550M bought investors about 11% of the company. It came 40 months after Qonto's Series B. It is 96% of the $575M Qonto has raised in the venture rounds on record. No later venture round is on record for Qonto.
Investors
Who put money in
Tiger Global and Technology Crossover Ventures led the round with 18 other firms. Tencent Holdings had backed Qonto before.
Lead investors
- Tiger Global backs 391 venture-backed companies new investor
- Technology Crossover Ventures backs 86 venture-backed companies new investor
Also in the round
- Alkeon backs 51 venture-backed companies new investor
- backs 69 venture-backed companies new investor
- DST Global backs 179 venture-backed companies new investor
- Eurazeo backs 103 venture-backed companies new investor
- European Investment Bank backs 40 venture-backed companies new investor
- KKR backs 104 venture-backed companies new investor
- Tencent Holdings existing investor
- Insight Partners backs 548 venture-backed companies new investor
- Valar Ventures backs 56 venture-backed companies new investor
- Gaingels backs 364 venture-backed companies new investor
- Exor Seeds new investor
- backs 11 venture-backed companies new investor
- backs 7 venture-backed companies new investor
- Altair Capital Management new investor
- Ashley Flucas new investor
- Sequoia Capital backs 589 venture-backed companies new investor
- Singular new investor
- Guillaume Pousaz
Individual investors: Ashley Flucas, Ashley Flucas, Ashley Flucas, Ashley Flucas, Ashley Flucas, Ashley Flucas, Ashley Flucas and Ashley Flucas.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
24 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $208M, and this round was 2.7 times the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Checkout.com Payment Processing & Point of Sale | 12 Jan 2022 | $1.00B | $40.00B | not named |
| Flutterwave Payment Processing & Point of Sale | 16 Feb 2022 | $250M | $3.00B | B Capital |
| Bolt Payment Processing & Point of Sale | 13 Oct 2021 | $393M | $6.00B | not named |
| Neon Payment Processing & Point of Sale | 19 May 2022 | $300M | $1.60B | BBVA |
| Xendit Payment Processing & Point of Sale | 19 May 2022 | $300M | not disclosed | Coatue and Insight Partners |
| Payment Processing & Point of Sale | 13 Sep 2021 | $250M | $4.00B | Thrive Capital and General Catalyst |
| Payment Processing & Point of Sale | 10 May 2022 | $200M | $1.40B | KKR |
| Payment Processing & Point of Sale | 17 Sep 2021 | $138M | $1.00B | D1 Capital Partners |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Qonto raise in its Series D round?
Qonto raised $550M in its Series D round, announced in Jan 2022.
Who led Qonto's Series D round?
Tiger Global and Technology Crossover Ventures led it, with Alkeon, Alven, DST Global, Eurazeo and European Investment Bank and 13 more.
What was Qonto's valuation at the Series D round?
$5.00B post-money ($4.45B pre-money).
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
24 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $208M, and this round was 2.7 times the median.