Qonto unveils its first in-house financing offer, ‘Pay later’

By Gloria Methri

Qonto has launched its first in-house financing solution to extend its product offering and strengthen its market position. To offer this short-term financing, the company is leveraging its existing payment services license.

The new solution is accessible from Qonto’s mobile and web apps and complements the financing platform Qonto launched in 2023 through strategic partnerships. With Pay Later and the existing partner offers on the platform, Qonto customers now have access to a comprehensive range of financing solutions that dispense amounts up to €10 million.

The launch of Pay Later marks another step in Qonto’s ambition to become the business finance solution of choice for European SMEs and freelancers by the end of 2025. Pay later is a short-term financing offer that gives eligible customers instant access to funds of up to €10,000 directly from the app.

In 2023, the company launched the Qonto financing platform across all 4 of its markets (France, Germany, Italy, and Spain). Over the past year, almost 8,000 projects have already been financed for a total amount of almost €60 million.

With the launch of its short-term financing offer, Qonto aims to provide businesses with increased financing options that respond to their customers’ very different needs. With Pay Later, eligible customers have instant access to funds of up to €10,000 directly in their Qonto account.

The offer complements existing offers from partners (Defacto, Silvr, Karmen, Edebex, and Riverbank in France; Faicredit and Viceversa in Italy; and Defacto, Kintai and Bankable in Spain) on the financing platform. The new product will be seamlessly integrated into the financing platform and directly accessible from the Qonto account.