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French B2B neobank Qonto reaches 600,000 customers, files for banking license

French B2B neobank Qonto, targeting freelancers and SMBs, has reached 600,000 customers and filed for a banking license. CEO Alexandre Prot aims for broader lending capabilities to achieve a goal of 2 million customers by 2030. Currently using a payment institution license, Qonto's profitability in 2023 supports its plans for growth and expansion, despite challenges in competing for a credit license.

Key points

  • Qonto has reached 600,000 customers, aiming for 2 million by 2030.
  • It currently operates under a payment institution license since 2018, limiting its offerings.
  • The filing for a banking license will allow broader lending, savings, and investment options.
  • Competitors like Memo Bank and Revolut are also exploring banking licenses, raising pressure on Qonto.
  • Qonto is focusing on profitability to support future funding needs and product development.
  • The launch of its Pay Later service demonstrated demand for credit, facilitating €50 million in financing.
  • Qonto plans to improve its banking infrastructure and reduce reliance on others through in-house solutions.

Why it matters

  • The neobank trend is part of a broader move towards digital finance solutions.
  • The rise of B2B fintechs aligns with increasing demand for integrated financial services.
  • The competition for banking licenses among fintechs reflects a significant industry shift towards regulatory compliance.
  • As of 2025, notable trends include the use of AI in financial services and the growing acceptance of neobanks by traditional banking customers.

Qonto's pursuit of a banking license and expansion plans highlight a significant evolution in the fintech landscape, reflecting growing competition and customer demands for comprehensive banking services, positioning it for future growth amidst regulatory challenges.