qonto

While many entrepreneurs are currently facing the harsh reality of a VC funding crunch, Qonto isn’t one of them. The Paris-based business banking startup still has hundreds of millions of cash on hand. And it is using an undisclosed portion of its cash reserve to acquire Regate, an accounting and financial automation platform. Qonto originally started with online business accounts with debit cards specifically tailored for small and medium businesses. Over time, the company expanded its product offering to include…

PARIS: French technology and data management company Castor, whose clients include Deliveroo and online fashion site Vestiaire Collective, said on Tuesday that it had raised $23.5 million in a new funding round led by venture capital firm Blossom Capital. The fundraising comes amid French President Emmanuel Macron's attempts to highlight the appeal of the country's burgeoning technology industry to overseas investors. Insurance companies and large financial services firms have been ramping up their investments in…