Qonto, the business finance company, has introduced "Pay later," a new short-term financing solution aimed at small and medium-sized businesses (SMBs) and freelancers across France, Germany, Italy, and Spain. This buy now, pay later (BNPL) service offers eligible customers up to €10,000 with a 1.17% monthly interest rate, repayable in three installments over 90 days. The initiative aligns with Qonto's ambition to become the preferred business finance solution for 1 million European SMBs and freelancers by 2025. The service, available through Qonto's mobile and web applications, enhances the existing financing platform launched in 2023, which had previously relied on partnerships. With Pay later, Qonto now offers a broader range of financing solutions that can provide up to €10 million to its customers. This step also follows Qonto's planned acquisition of French FinTech Regate, indicating a strategic expansion to streamline financial operations for SMBs.
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