Pennylane raises €50 million to accelerate expansion

Pennylane, which was founded in 2020 and has experienced rapid growth, has just received a new financial increase of €50 million. The company aspires to become Europe’s premier financial operating system, allowing thousands of small enterprises to consolidate their financial operations into a single application.

Pennyland will become one of the only platforms integrating a complete software solution for accountants and a financial management tool for VSEs/SMEs with this latest round of funding from previous backers Sequoia Capital, Global Founders Capital, and Partech.

The French firm has made great progress in its mission to help businesses recover control of their money after raising €15 million last year. Last year, we thought they were a team to keep an eye on.

It has developed and delivered a unique solution to the market over the last few months: a platform that combines a complete software solution for accountants and management with a decision-making tool for company executives.