Business finance solutions provider Qonto has announced its international expansion in several European countries, focusing on solidifying its regional position. Through this strategic move, small and medium-sized enterprises (SMEs) and freelancers across Austria, Belgium, the Netherlands, and Portugal can leverage Qonto’s solutions to augment and optimise their operations, while the company further improves its position in Europe.

Since its launch, Qonto has been focusing on simplifying day-to-day banking by providing an online business account merged with finance tools, including invoicing, bookkeeping, and spend management. Qonto’s expansion in Europe The current announcement is set to serve the needs, demands, and preferences of SMEs and entrepreneurs across these regions, which in turn supports Qonto’s development strategy as it works towards becoming the business finance solution of choice for European SMEs and freelancers by 2026. As detailed by Qonto, small businesses and freelancers total 99% of businesses in Europe and provide 100 million jobs in the EU.

However, companies still face difficulties in accessing finance and banking services. With this expansion into Austria, Belgium, the Netherlands, and Portugal. Qonto plans to support businesses in scaling their operations while making them more efficient.

Following in-depth studies, surveys, reports, and phone interviews with local SMEs and freelancers, Qonto gained insight into all four markets, their needs and expectations. The company also collaborated with local stakeholders, including respective chambers of commerce, and tech and fintech associations, to ensure that its products can address specific needs in each local market. Additionally, this expansion comes after Qonto launched its services in France, Germany, Italy, and Spain, with the firm being committed to implementing the knowledge gathered from previous markets to deliver more value to European businesses.

Previous news from Qonto Besides centring its efforts on scaling its operations, Qonto also recently entered several partnerships with other industry participants to further augment its capabilities. For example, the end of June 2024 saw the firm teaming up with Wise to improve international payment services for over 500,000 SMEs and freelancers across Europe. As part of their collaboration, the two companies planned to simplify and expedite cross-border financial transactions, addressing widespread issues such as complexity, slow processing times, and high costs.

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