Qonto and Upvest team up to enable businesses to allocate surplus cash to money market funds

Source: Upvest

European business finance platform Qonto has announced a partnership with Upvest, Europe’s leading investment infrastructure provider, to launch a new in-app investing feature. Qonto’s business users can now allocate surplus cash into highly competitive, euro-denominated money market funds from as little as €1. Germany, Qonto’s largest market outside France, will be the first to benefit from this new offering, followed by a future market expansion across Europe.

Money market funds are a natural fit for small and medium sized businesses looking to earn returns on working capital broadly in line with overnight deposit rates. The new feature is embedded into the Qonto experience, and can be accessed without leaving the platform or performing an additional KYB (Know Your Business) verification beyond the existing Qonto account verification. Additionally, the yield is shown transparently, net of all fees, directly inside the Qonto dashboard. Thus, businesses can now manage their accounts, track their spending, and handle their invoicing and bookkeeping, while putting their cash to work at the same time.

For too long, the treasury tools available to large corporates have been out of reach for SMEs, even though collectively they hold billions in business accounts across Europe. Germany alone is home to more than 3.4 million SMEs, making it one of the most significant markets to address. This partnership is a step towards closing that gap.

By giving its business users a simple and accessible way to earn returns on surplus funds, Qonto takes another step towards becoming the all-in-one financial home for European businesses, helping them not only manage their money, but grow it.

Behind the scenes, Upvest’s investment infrastructure handles order execution and settlement, custody, regulatory reporting, and tax processing, reducing operational complexity and enabling Qonto to focus on delivering a best-in-class experience for its users.

Malte Dous, managing director, Central Europe at Qonto, said: “We built Qonto to give SMEs a smarter way to manage their finances. Every feature we build comes back to the same question: What do our customers actually need to run their business more effectively?

“The answer was clear, as many SMEs have idle cash and they want to use it in a way that is working for them and supporting their growth. Partnering with Upvest thus is a natural next step as it brings investment capabilities directly into the Qonto platform and makes investing in money market funds as simple as transferring money.”

Martin Kassing, chief executive officer and co-founder of Upvest, said: “We are proud to partner with Qonto to bring investment capabilities to some of Europe’s most dynamic businesses.

“Powered by Upvest’s Investment API, Qonto can now offer its business users a seamless, low-friction way to grow their cash, while we handle all the complexity behind the scenes. This partnership is a strong example of how modern investment infrastructure can make capital markets genuinely accessible at scale.”

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