Financing your business, especially at the beginning of your project, can be complex. There are many solutions available. How do you know which one is the most suitable for your needs and your business model ?

Some traditional banks are reluctant to finance digital companies without tangible assets. To overcome this, companies like Karmen offer alternatives. Here is a decryption of the offers of the of the best professional banks for SaaS companies (Software-as-a-service) so you can get started in 2023 in complete security!

How to choose your bank when you are a SaaS?

Choosing your business bank is a key step in creating your business. Many criteria must be taken into account when making your choice. Indeed, as a SaaS start-up, you don't have the same needs as a traditional company.

In general, you should pay attention to the cost that the bank will generate, its value proposition and its repayment terms.

Account opening fees

When choosing your bank, you will need to compare and negotiate account opening fees. In traditional banks, opening an account can be quite long and may require more paperwork.

Unless you are already a personal account customer, it can be a bit tricky to negotiate account opening rates and related fees.

In this category, neo-banks and online banks are known for their speed and their fairly competitive cost of opening a new account

Concerning this criterion of choice, you must pay attention to two points:

  • There may be hidden fees in addition to the cost of opening an account. Be sure to check all the terms and conditions of opening an account with a new bank.
  • The service packages that some entities offer can be very attractive and beneficial to your business. Sort out the features that are essential or not for your business launch.

Conditions for bank loans and authorized overdrafts

When you start your business, you may incur more costs than you make in profits. This is most often the case when starting a SaaS business.

It is therefore very important to take into consideration the bank loan conditions of the banks before selecting one. We can then focus on the authorized overdraft.

Some traditional players are not necessarily adapted to young digital companies, they may require indicators or precise financial data that you do not yet have at your disposal.

Also beware, some neo-banks are not credit institutions. They will not be able to meet your requests for financing and support for your growth.

Regarding overdrafts, not all banks allow them. If many physical banks tolerate them, ask about the maximum amounts and the interest rates applied.

Means of payment and collection

On a more practical note, not all banks offer the same payment and collection methods. Depending on your business, these may vary.

  1. Concerning the means of payment: the majority of the services offer the same classic functionalities (transfers from your customer space, bank card for payment and withdrawal, credit card...).

Some differentiate themselves on additional features such as additional bank cards linked to the company account for your employees, a checkbook or payment tools for abroad.

  1. About the means of collection: your company may need a payment terminal, it may be likely to receive payments outside SEPA, etc. Be sure to compare the offers according to the needs of your teams.

Accounting features

One of the additional options that banking institutions can offer is accounting tracking. Online banks and neobanks are the most likely to offer these features.

Very useful at the start of your business, it allows you to manage your accounting via a single tool . This can take the form of an integration of an accounting software, an internal accountant or an expense report software.

Support and customer service

One of the last criteria and not the least is the support of your SaaS and the customer service offered.

To do this, refer to the reviews of other SaaS around you, public reviews or ask the banks directly if companies similar to yours use their service in order to find out more about the subject personally. 

What are the key features for a SaaS?

Among your selection criteria, some key features are almost indispensable for a SaaS company. Before making your choice, take a good look at whether the bank offers :

  • a variety of payment and collection options
  • accounting services available
  • Cash flow monitoring to manage your working capital needs
  • team management and collaboration features

These are the main functionalities useful for the development of your SaaS. Some banking institutions offer these services in parallel with their financing

These features help you better manage your growth and cash flow. These are the keys to a continuous and controlled development for digital companies. 

Top 5 most suitable banks for SaaS

Finding your way through the multitude of banking offers can be complicated. We have selected for you the five best banks to finance and support a SaaS company .


Qonto is known to be suitable for start-ups. In addition to being very convenient, it offers many features adapted to digital start-ups. The first offers start at 9,90 € per month.

The benefits :

  • Support and responsive customer service with a dedicated advisor
  • Virtual cards
  • Multiple authorized users
  • Up to 30 credit cards granted (MasterCard)
  • Cheque deposit possible
  • A quick and easy account opening
  • VAT detection on invoices

Disadvantages :

  • No checkbook
  • No authorized overdraft
Qonto is an online bank adapted to start-ups.
The advantages and disadvantages of Qonto

River Bank

The Luxembourg bank is known for granting instant credit for professionals looking for rapid growth. River Bank offers instant credit online through a business credit simulator.

You know with one click if your SaaS can get credit at no extra cost.

The benefits :

  • 100% online business credit
  • Responsive customer service
  • No loan insurance required
  • No application fee, no deposit 
  • No additional fees required if you prepay
  • No charge with interest rate - repayment via commission

Disadvantages :

  • Minimum turnover of 60 000 €.
  • Company of at least 6 months 
River Bank is a bank that provides instant credit to accelerate business growth.
The advantages and disadvantages of River Bank


October operates as an online credit broker. This bank offers very attractive rates for businesses that want to expand. The main advantage with October is the ability to finance any type of project.

The benefits :

  • A la carte service to finance all types of projects
  • Rates starting at 2%.
  • Eligibility response within 48 hours
  • Funds within 7 days
  • Professional loan up to 5 million euros

Disadvantages :

  • Minimum turnover of 250 000 €.
  • Created at least 3 years ago
  • Have the status of SA, SAS, SARL, EURL, SASU
October operates similarly to an online broker. 
The advantages and disadvantages of October

Boursorama Pro

Affiliated with Société Générale, the online bank Boursorama Pro offers significant advantages for young digital companies looking for growth. All this with an attractive price of 9 € monthly fee.

The benefits :

  • A Visa Classic or Premier card
  • Free withdrawals, transfers and direct debits in the euro zone
  • Authorized overdraft up to €4,000
  • A checkbook at your disposal
  • Cheque deposit possible
  • Services offered: accounting tool, savings solutions, account aggregator, document safe, etc.

Disadvantages :

  • 20 000 € over 30 days
  • Offer limited to self-employed people only: micro-businesses, self-employed people, liberal professions, craftsmen, etc.
For €9 per month, Boursorama Pro offers advantageous conditions to young companies.
The advantages and disadvantages of Boursorama Pro


For 7.90 euros per month, the neo bank Shine offers basic services, but at a particularly attractive price for digital companies.

The benefits :

  • Quoting and billing tools
  • Creation of a company
  • Online capital deposit
  • Compatible with SumUp (19 €) with a commission of 1.49
  • Excellent customer service
  • A free Mastercard

Disadvantages :

  • Commissions of 1 € on current transactions
  • Withdrawals and payments outside the euro zone charged at €1 + 1.90% of the amount
  • No checkbook
  • No authorized overdraft
The neobank Shine offers basic services at an attractive price.
The advantages and disadvantages of Shine

Karmen, an excellent alternative for financing a SaaS

The RBF is a non-dilutive loan

The major comparative advantage of the FBR is its speed and the non-dilution of the capital. Indeed, unlike a fund raising, the RBF is a non-dilutive solution.

But what is capital dilution? Dilution is when a company has to give a part of its share capital against investment. The increase of the capital by issuing new shares will generate this dilution.

The major disadvantage of dilution is that the entrepreneur at the helm loses decision-making power. The issuance of new shares will create new voting and decision-making rights for the new investors.

This dilution, therefore, leads to a lower return per share.

Karmen avoids this dilution while being a fast and digitalized solution. 

Why choose financing from Karmen? 

As you can see, traditional banks ask for a lot of information in order to evaluate your creditworthiness. This can be a barrier for many SaaS companies. Even more, some may be reluctant to lend to digital companies that have no or few tangible assets.

Karmen offers an alternative to this. With RBF or Revenue-Based Financing you can finance your SaaS growth quickly and transparently

Indeed, at Karmen, we offer you a financing:

  1. Fast: in less than 48 hours, you know if you are eligible and what your financing plan can be.
  2. Transparent: commissions are set between 4% and 10% depending on your financing plan and your schedule is defined before the start of repayment. So there are no hidden costs!
  3. Non-dilutive: a plus compared to venture capital financing. You remain in control of your company, no share capital is required in return for the financing.


Traditional banks ask for a lot of information in order to assess your creditworthiness. This can be a roadblock for many SaaS companies. Even more, some may be reluctant to lend to digital companies that have little or no tangible assets.

While online banks are more flexible, other financing solutions exist. Karmen offers a Revenue-Based Financing solution to fund your SaaS growth. To find out more, don't hesitate to ask about the RBF and test your your eligibility to our offer.