Qonto Appoints Lorenzo Pireddu as Managing Director for Southern Europe to Drive Regional Growth

WHY THIS MATTERS
Qonto’s appointment of a regional Managing Director and increased investment in Southern Europe signals how competitive the SME banking space has become. With nearly 9 million businesses across Italy, Spain and Portugal—many still underserved by traditional banks—the region represents a major growth opportunity for fintechs offering digital-first financial services.

The move also aligns with Qonto’s broader ambition to become a fully licensed bank. Expanding beyond payments and expense management into lending and financing products is a natural progression, but it requires deeper local expertise, regulatory navigation, and stronger operational presence. Investing in leadership and regional infrastructure reflects the need to balance scale with localisation in fragmented European markets.

Qonto, Europe’s leading business finance solution for SMEs and freelancers today announces the appointment of Lorenzo Pireddu as Managing Director for Southern Europe. Pireddu will oversee operations across Italy, Spain and Portugal, driving Qonto’s growth strategy in a region comprising over 8.8 million businesses. The company will increase its investment in Southern Europe by 24% year-on-year, reinforcing its commitment to the region. 

Pireddu brings over 15 years of experience scaling technology companies in highly regulated markets, most recently as Managing Director of Uber Italy for over six years. He holds a degree in Economics from Luigi Bocconi University in Milan. At Qonto, he will manage the Southern Europe region with the goal of driving sustainable, compliant growth across Italy, Spain, and Portugal as the company prepares to become a bank. 

“I come from a family of mid-business owners in Sardinia. Growing up, I saw firsthand the financial challenges SMEs face – the long bank queues, the lack of expense control, the broken invoicing systems. That’s what drew me to Qonto: the opportunity to help hundreds of thousands of businesses like my parents’ every day.” comments Pireddu on his new role. “Southern Europe represents an enormous opportunity for Qonto, with almost 9 million SMEs across Italy, Spain, and Portugal. As we continue to expand our offering and significantly increase our investment in the region, we’re positioning ourselves to become the financial partner these businesses have been waiting for.” 

Strategic investments across Italy, Spain, and Portugal 

Qonto is significantly scaling its commitment to Southern Europe in 2026, increasing its investment in the region by 24% year-on-year. This investment spans hiring, product development, and marketing initiatives designed to deepen Qonto’s connection with local business ecosystems. The region currently employs over 350 Qonto team members, with dedicated offices in Milan and Barcelona, and will continue to grow as Qonto expands its local presence, including building its team in Portugal. 

Italy and Spain have been strategic markets for Qonto since 2019, where the company has established a strong presence within the local SME community. Portugal, launched in 2024, represents one of the company’s most recent expansions and a key growth opportunity. 

As Qonto progresses toward becoming a bank, the company will expand its offering beyond core banking services to include financing products. This evolution will enable Qonto to support businesses not just with day-to-day financial management, but throughout their entire growth journey. 

Alexandre Prot, Co-Founder & CEO of Qonto says: “Southern Europe has been critical to Qonto’s growth since our very beginnings. The region is home to millions of micro and small businesses that have been underserved by traditional banks. As we prepare to become a bank and expand beyond core banking services into financing, we need the right leadership and structure to capture this opportunity. Lorenzo’s track record in building and scaling operations in complex, regulated markets, combined with his deep understanding of local business needs, makes him the ideal leader for this next chapter. Under Lorenzo’s leadership, we’re reinforcing our ambition to become a key local player in Italy, Spain, and Portugal – balancing European scale with the local expertise these markets need.” 

FF NEWS TAKE
SME banking in Europe is entering its next phase: scale meets localisation.

Qonto isn’t just expanding—it’s preparing to compete like a bank. That means deeper regional investment, tailored offerings, and leadership that understands local business realities.

As fintechs mature, success will depend less on rapid expansion and more on execution within each market. The winners will be those that combine pan-European platforms with genuinely local strategies.