Qonto Files for French Banking Licence with ACPR After Surpassing 600,000 Business Customers
Qonto, Europe’s leading B2B neobank for SMEs and freelancers, announced on 2 July 2025 that it had filed a full banking licence application with France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR), simultaneously reporting that it had surpassed 600,000 business customers across Europe.
Current vs. Target Regulatory Status
| Status | Current | Post-Licence (Target) |
|---|---|---|
| Licence type | Payment institution (2018) | Full banking licence |
| Can accept deposits | ❌ No (funds pass-through) | ✅ Yes |
| Can offer loans | ❌ No | ✅ Yes |
| Deposit protection | ❌ No DGS | ✅ DGS protected |
| Interest on balances | ❌ No | ✅ Yes |
What a Banking Licence Would Enable
A full banking licence from the ACPR would transform Qonto’s business model:
- Use customer deposits to fund credit products for SMEs
- Offer business loans, overdrafts, and working capital finance directly
- Provide interest-bearing business current accounts
- Access ECB payment systems directly (TARGET2)
Timeline
CEO Alexandre Prot indicated the French banking licence process could take several years — a realistic assessment given ACPR’s thorough evaluation process and Qonto’s need to build out its capital, governance, and risk management frameworks to banking-grade standards.
Note: Revolut also announced its own ACPR banking licence application in May 2025. Both applications are in parallel — Qonto for its existing business operations, Revolut for its new Paris HQ.