Series B · Fintech
Pennylane raises €50 million Series B
Sequoia Capital, Global Founders Capital and Partech reinvest in accounting software.
Pennylane announced €50 million in Series B funding on January 31, 2022, from Sequoia Capital, Global Founders Capital and Partech.
The financing supported its shared platform for accountants and small businesses, combining accounting production with cash management, payments and financial decision-making. Pennylane planned to recruit more than 200 people across technology, data, design and product during 2022.
Use of funds
Develop financial management and accounting software.
Expand product and technical teams.