Series C · Fintech
Pennylane raises €40 million Series C
Sequoia Capital and DST Global support AI and accounting software development.
Pennylane announced €40 million in Series C funding on February 8, 2024, from Sequoia Capital and DST Global. The financing valued the French financial management company at around €1 billion.
The company planned to invest in artificial intelligence for accountants, develop its platform and pursue acquisitions. Its shared software connects accounting firms with their business clients, helping both work with financial information in real time.
Use of funds
Invest in artificial intelligence for accountants.
Develop the platform and expand through acquisitions.