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“Is Kunto the real bank?” French Fintech Startup is one of the top proposed questions in Google Searchs. The answer is not, but it may change: Arrangement Alexandre Prot has been released in France for a banking license.
Targeting European Freelancers and SMBs Nothi operates with a payment institution license in 2018 and has already enabled it to turn it on Now a form of buying, pay later (BNPL), however, a credit institution license allows it to provide its aim to customers a wide nding, savings and investment option.
Since its current license is valid throughout the EU, some have already been able to expand a number of European markets and recently, the milestone of the customer has reached. However, the lack of credit licenses to reach 2 million customers by 2030 is an obstacle.
It seems like a natural step to compete with banks when it comes to a more extensive solution, getting licenses and roll out of credit is not easy. This explains why Kantor SMB Fintech contestants have come to this problem in various ways and why Kunto is not playing exactly catch-up.
Was the memo bank Established as a bank From the beginning, and proposes to nDing the SMBs, it makes it an external. Handing up to finum Including an Electronic Money Institution (EMI) licenseHowever, it simply begins to examine the type of nding that this regulatory middle ground is allowed. Revlut has a full Lithuanian license, but without BNPL it has not yet been able to roll out credit options to the business – though it’s it Plan to do it this yearThe
Nevertheless, the marketing strength of good-affiliated competitors operated both B2C and B2B may be a sign that Kunto needs to be accelerated, especially the Revlut recently announced a French license to get a French license in loudly and Turn Paris into its headquarters in Western EuropeThe
Without mentioning the competitors, the protot said that the time of Kunto was governed by “gaining profitability in 2021”.
Former BNP is the son of the environment Budwin protoCEO CEO obviously thought about following a credit license already – and this is not just an estimate. During a press briefing, the protement confirmed that he and co-founder Steve Anvi had taken this idea seriously at one point, but eventually dismissed it because it requested too much time and additional funds.
Being profitable since 2021 means that this barrier will no longer require funds to raise more than Kanto In 2022 it secured $ 552 million To evaluate a $ 5 billion. Protrud Recently said This is “the original or the only reason, why we can collect additional capital if we make a big or very large M&A deal, most cash pays” ”
In its eight -year existence, Kunto has acquired two: it Adoption Its German contestant Penta in 2022, and it bought accounting and financial automation platform Regatus In 2024.
The second is the reflection of the contact position outside of banking and as an integrated finance management solution, with an offer that includes shipping and bookkeeping equipment.
As a result of this approach it has helped to grow in the B2B division across Europe. The protrus, his, refused to give the full breakdown of 000,6 customers, said that Germany is now the largest market in Kunto after France. In the undisclosed grace, Spain and Italy then come in, then The markets that have entered the end of 2024: Austria, Belgium, the Netherlands and the Portugal.
Nevertheless, the protot works under the concept that some customer will not choose the conting if it is not a credit company. This is because it gives additional guarantee on their deposits and because if they need them they want to be an alternative to credit, which something already does.
Someone has validated that demand for Credit through his next service; Launched in 2024, it has already assisted in financing € 50 million, according to the company (about $ 59 million). However, the offer is limited by its current license – both for Koto, which can only give nd from its own equity and for its customers, who cannot take the orrow for more than 12 months.
To help customers’ other types of loans access, Kunto also left together “Financing Hub” With a third -party fintech partners Defact, Carman, RiverbankAnd SilverThe Prot said that Kunto was planning to stay for at least a few more years. And some of these offers are more specific than what the company can enter.
Nevertheless, when becoming a credit company on your right, both from the margin of credit and from the deposit to both the opposite direction will unlock new earnings for the contact, which will be able to use it to nDing. Prot has refused to publish revenue statistics but says that the revenue has increased by 30% last year.
However, the protot said that this extra earning was not the main reason for the game. Acquiring new customers on one side, Kunto also views it as a little relying on the other and as the opportunity to launch new products quickly. In the same vein, it has recently created an in-house card processor to increase the acceptance rate when reducing the dependence on the third party.
With a team of 1,66 people, Conto is now hoping that the bandwidth will work on the development of new products like the AI-capable “Conto Intelligence” level, as well as increasing its banking infrastructure and risk management teams.
The latter is also aimed at displaying his preparation to the banking supervisor in France, which plans to work closely to get his license. The process can still take years, but it is also a part of a wide “growing” effort for Koto, which has recently added several senior profiles to its board of directors. These steps can help create the foundation of the future IPO, though it remains a long -term prospect.