Fintech unicorn Qonto to acquire Regate

This week, fintech unicorn Qonto announced its plan to acquire French fintech company Regate. While the financial details are undisclosed, the deal is expected to close in the next few weeks.

Qonto makes day-to-day banking easier for SMEs and freelancers thanks to an online business account that combinesthat's invoicing, bookkeeping, and spend management tools. Founded in 2020, Paris-based Regate already serves 10,000 SMEs and 500 accounting firms with its all-in-one accounting and financial automation platform. Regate raised €20 million in 2022 and has a team of 100 employees.

The combined offering of Qonto and Regate will provide SMEs and accounting firms with a wider range of financial management tools.

More than 450,000 companies use Qonto to simplify their finance management, thanks to an online business account that's combined with advanced financial tools. The integration of Regate will further enrich this offer with additional Accounts Payable, Accounts Receivable, and bookkeeping features to ensure a smooth end-to-end data flow between SMEs and their accountants.

Regate's team of 100 employees will be integrated with the existing Qonto organisation, which currently employs 1,400 people, as part of a dedicated business unit focusing on financial tools for accountants. 

This unit will be led by the two co-founders of Regate, Alexis Renard, who will be managing director, and Laura Pallier, who will be product director. 

Qonto has raised €622 million and previously acquired Penta in July 2022. 

According to Alexandre Prot, CEO and Co-Founder of Qonto:

"Teaming up with Regate enables us to offer the best finance solution on the market for both SMEs and accounting firms.

It will further accelerate our growth and significantly reinforce our market leadership in an increasingly crowded space. 

With our new dedicated offer, which includes Regate's existing partnerships with industry leaders like Sage or Cegid, we can now perfectly address the needs of accountants and be a true partner, both to them and to the businesses they work with."

"We are really excited about this unique opportunity to join Qonto and shape the future of a true European fintech champion together as one team.

I am convinced that we can be an integral part in this success story, not only enriching the product offer but also bringing additional expertise and experience in the finance and accounting space to the team – it's a real win-win for the customers of both Qonto and Regate!" says Laura Pallier.

Lead image: Steve Anavi (President and co-founder of Qonto), Alexis Renard (co-founder of Regate), Laura Pallier (co-founder of Regate), Alexandre Prot (CEO and co-founder of Qonto). Photo: uncredited.