European business finance solution for SMEs and freelancers, Qonto, is to acquire Regate. The deal is expected to close in the next few weeks. According to Qonto, it reinforces its position as the most advanced business banking offer on the market. It will enhance its existing solution for SMEs with additional financial tools and adds a dedicated product for accounting firms. Moreover, the acquisition underlines its ambition to become the finance solution of choice for one million SMEs and freelancers by the end of 2025.

Founded in 2020, Paris-based Regate serves 10,000 SMEs and 500 accounting firms with its all-in-one accounting and financial automation platform. By joining forces, Qonto and Regate will create the most comprehensive offer for SMEs and accounting firms available to date. More than 450,000 companies use Qonto to simplify their finance management. This is 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. It will, says Qonto, ensure a smooth end-to-end data flow between SMEs and their accountants.

A dedicated solution for accounting firms

Following the Regale integration, Qonto will have a new dedicated offer for accounting firms. Currently, 6,000 such companies in France are already using Qonto to save up to two hours per month for each client file they manage. Qonto aims to facilitate further exchanges between SMEs and their external accounting partners. With Regate’s product integrated into the Qonto offer, accountants will benefit from a shared and collaborative interface with their customers. From this, they can start generating accounting entries in a matter of seconds. All this is automated, leveraging their existing accounting tools, such as European market leaders Sage, Cegid or ACD. Qonto will also be launching a new feature by the end of this month.

‘The best finance solution on the market’

This will enable certified accountants to initiate the capital deposit process on behalf of their clients. In turn, it says it will make business creation possible in just under a week, from start to finish.

“Teaming up with Regate enables us to offer the best finance solution on the market for SMEs and accounting firms. It will not only further accelerate our growth. It will also significantly reinforce our market leadership in an increasingly crowded space. Our new dedicated offer 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,” said Alexandre Prot, CEO and co-founder of Qonto.

Laura Pallier, co-founder of Regate, added: “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.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.