Alven Capital has led a $1.7M seed financing for Qonto, joined in the round by Valar Ventures, the venture capital fund backed by Peter Thiel, and business angels.

Alven Capital has led a $1.7M seed financing for Qonto, joined in the round by Valar Ventures, the venture capital fund backed by Peter Thiel, and business angels.

Qonto aims to become the next generation bank for entrepreneurs, SMEs and startups by providing an online service that will allow them to create an account in less than 5 minutes, instantly receive an IBAN and get started to manage the company’s physical and digital business cards and perform their day to day operations.

Qonto benefits

This new service will keep three priorities in mind : save time, improve the financial visibility and save banking fees.

The company was started by Alexandre Prot and Steven Anavi, previously successful founders of Smokio, an Alven Capital portfolio company acquired in 2016. Qonto will enter into beta phase in March and become available to a broader audience by the summer.