France-based Qonto picks up €10 Series A

France-based online banking platform Qonto has reportedly picked up a €10m Series A funding round.

The investment was led by Alven Capital and Valar Ventures, according to various reports in the media.

Qonto is a small business online banking platform, helping to make bill and payment management easier. It’s real-time processing means when a payment is made the client is notified, making it easier to report suspicious activity.

The platform is powered with Mastercard, allowing users to either have virtual or physical cards.

With this funding the Qonto has been able to launch its platform to France-based small businesses, having been in testing for the past six months, the articles state.

This funding round comes after the €1.6m seed investment late last year, which was also lead by Alven and Valar.

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