This funding will enable us to invest in major technical developments to better serve entrepreneurs and SMEs with products and services that helps manage their companys finances payment services bookkeeping team collaboration tools and much more. So stay tuned because we have lots of new products launching starting from midFebruary But we might have said too much already. Being part of the adventure since the seed round in we are delighted to invest in this new round and.
Ahelp Qonto scale further. In the past three years weve been continuously impressed by the ambition and the talent of the whole Qonto team. They have launched an outstanding service photo retouching that offers a great user experience to business clients. We are proud to help them build the next founding partner at Valar. And last but certainly not least we are on our way to becoming a fullylicensed European business finance management solution in In we obtained our Payment Institution licence and since then we have been building our own Core Banking System.
To go even further in we submitted our application to the French regulator ACPR Banque de France and the funding will be a key support for us to attain our own credit institution licence and become a the finance management solution all businesses love. Qonto is reinventing business banking addressing an under served SME and freelancer market. Were happy to be backing Alexandre Steve and their team in making banking smooth fast and efficient across Europe and in turn letting small businesses focus on growing their businesses commented Danying Ma Investment Director of Tencent. In the next few months we will make sure to implement these changes as transparently as possible so you can follow our progress.
