Penta raises €8m in funding round
Digital business banking platform, Penta raised more than €8 million euros in an investment round led by HV Holtzbrinck Ventures, Ruby Hinchliffe reports.
Following the new founding round HV has become a shareholder of Penta, joining existing shareholders finleap and Italian fintech Fabrick.
Penta provides a digital banking platform for SMEs and recently merged with Beesy, a finleap company in Italy focused on digital financial management solutions for micro-businesses.
“This funding will allow us to further invest into our product and partnerships to become the financial platform of choice for small and medium sized companies,” says Pento’s CEO Marko Wenthin.
He added: “Additionally, we will push the internationalisation of Penta, starting with Italy this year.”
The German fintech, serving close to 10,000 companies, provides debit cards for teams, expense management, integrated accounting solutions and international payments in 35 currencies.
“In Penta, we found an incredibly talented, ambitious team with a product-centric and customer-oriented approach,” says HV partner Barbod Namini. “We are looking forward to being a close partner to Penta on the road to redefining business banking in Europe.”
HV, founded in 2000, has previously invested in the likes of Zalando, Delivery Hero, HelloFresh.