Last year, French startup Qonto acquired its German competitor Penta. Both companies offer business bank accounts for small and medium companies as well as freelancers. Today, Qonto shared some details about the integration process.
At the time of the acquisition, Penta was serving 50,000 companies in Germany while Qonto had 300,000 customers in France, Spain, Italy and Germany. While Penta is no longer accepting new customers, new German companies looking for a bank account can sign up to Qonto directly.
As for existing customers, Qonto now expects to move all Penta customers to Qonto’s banki
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