Today, Finleap portfolio company, Penta announced that it will be acquired by Qonto.

Qonto is the market leader in digital financial management for small and medium-sized enterprises (SMEs), sole proprietors and freelancers in France and operates throughout Europe; Penta is the market leader in this segment in Germany. The transaction is expected to be finalised in the coming weeks.

The merger of the two market leaders will create a truly European champion for digital business banking overnight:

  • at home and strong in Europe’s core markets: Germany and France, Italy and Spain
  • with deep knowledge and understanding of the needs of SMEs, self-employed and freelancers
  • with products and services that simplify the finances of SMEs, sole proprietors and freelancers and make them more convenient – from daily banking to invoicing and expense management to accounting and hedging entrepreneurial risks
  • with digital solutions that are always available and reliable, simple and convenient – and that have transparent and fair prices
  • with the ability to bring new ideas and solutions for customers to market even faster in the future
  • with the know-how of talented digital experts and business customer specialists from more than 30 countries
  • with an attitude that also takes into account the protection of our environment and the societies in which we work
  • a culture of willingness and pleasure to always be there for our customers in the best possible way.

Both firms were founded in 2017, tracking impressive growth since inception. In 2021, Qonto achieved 170% YoY customer growth.

Alexandre Prot, Qonto CEO, commented: “When Steve Anavi and I founded Qonto, we had the ambitious goal of simplifying everyday banking for SMEs and freelancers across Europe. Today, we’re already present in four European markets and, while I’m very proud of what we’ve achieved so far, we want to go even further: the natural next step was to join forces with Penta. We are thrilled to welcome the Penta team onboard. Together we’re going to be the finance solution of choice for one million European SMEs and freelancers by 2025!”

Markus Pertlwieser, CEO of Penta, stated: “Lukas Zörner and his co-founders have written a real fintech success story. With the combination of increasing customer numbers and rising revenues, we have gained even more substance in the past 18 months. We are very excited that we now have the chance to actively shape digital banking for business customers in Europe as a team with Qonto.”

Shackleton’s Victoria Fund will retain an interest in the merged company, through its interest in FinLeap.