The fintech Qonto opens its first office in Madrid, with capacity for 50 people, and applies for a banking licence from the Bank of Spain to expand its financing offer for SMEs and freelancers.
The fintech Qonto, specialised in financial services for SMEs and freelancers, inaugurated its first office in Madrid this Thursday, located in the coworking space Monday Cibeles, on Gran Vía. The space has capacity for 50 people and will allow the company to expand its presence in Spain beyond Barcelona, where its national team was previously concentrated. This information was reported by 20minutos.
The opening coincides with a moment of expansion for Qonto, which has surpassed 750,000 customers and 1,700 employees in the countries where it operates: France, Germany, the Netherlands, Italy, Belgium, and Portugal. In Spain, the company has progressively expanded its activity to exceed 300 employees, according to Giacomo Ruggiero, global director of sales and account growth for the group.
"This growth reflects the strategic importance of this market for Qonto. We have progressively expanded both our activity and our local presence, surpassing 300 employees"
Ruggiero highlights the potential for expansion in Spain, where SMEs represent a high percentage of the productive fabric. "Spain is one of our priority markets. But our ambition is not just to increase the number of customers. We want to deepen the relationship we have with them," he adds.
The application for the banking licence with the Bank of Spain will represent a decisive step to gradually expand its capabilities, especially in financing services. The company's roadmap is based on three pillars: investment in local talent, strengthening connections with the business ecosystem, and expanding the product catalogue.
Among its base of Spanish clients, which the company avoids quantifying, Ruggiero notes that they are diverse profiles, from freelancers and entrepreneurs who have just started their business to SMEs and startups. Among its national clients are the emerging company in the floriculture sector Colvin, as well as consulting firms and digital marketing agencies. "We want more and more companies to use Qonto not only for their financial operations but also to manage their invoicing, control their expenses, and access tools that facilitate their growth," he emphasises.
The growth plan comes at a time of proliferation of neobanks in Spain. Following the arrival of Monzo Bank, the entry of Twelve is also expected next December. Unlike these two, Qonto is focused on the business segment and does not offer services to individuals. It has been operating in Spain since 2019 and its plan for 2030 aims to reach two million customers globally.
This facility has been launched almost in parallel with Qonto Bonne Nouvelle, a new headquarters in central Paris of 11,000 square meters, nearly double the size of the previous office, with 900 workstations spread over nine floors. At a corporate level, one of its latest moves has been the acquisition of the assets of Acasi, a French digital accounting firm. With this, Qonto plans to integrate accounting services for freelancers into its product offering for France, after having integrated business accounts, payments, invoicing, expense management, financing, and pre-accounting.
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