French fintech Qonto nears $5 billion valuation after new fundraising

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Reuters UK

By Mathieu Rosemain PARIS (Reuters) – Qonto, a French on-line financial institution for small and medium-sized firms (SMEs), stated on Tuesday it had raised 486 million euros, bringing its valuation to 4.4 billion euros ($4.98 billion), in one other signal of the great well being of the French fintech sector. France has recorded a streak of enormous non-public fairness fundraising, as the mix of low rates of interest, funding incentives and stay-at-home measures because of the COVID-19 pandemic have boosted digital firms. Qonto’s newest fundraising is a report for a French fintech, a startup that concentrate on financi…

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