Business
Penta, the German business banking startup, raises €8M additional funding
Penta, the business banking provider for small and medium sized enterprises (SMEs) that was recently acquired by fintech company builder Finleap, has raised “over” €8 million in new funding.
The round is led by HV Holtzbrinck Ventures. Also participating is Finleap, alongside Fabrick, the Italian platform for open banking and fintech services, which is another of Penta’s existing shareholders. The startup raised a €7 million Series A round in late 2018, and is thought to have had over €18 million investment since being founded in 2016.
Meanwhile, today’s new injection of capital comes shortly after Penta was acquired by Finleap, the German company builder that co-founded and also owns a stake in banking platform solarisBank, of which Penta is a customer. Shortly after the deal went through, it was confirmed that Marko Wenthin, who previously co-founded solarisBank, had become Penta’s new CEO, replacing outgoing CEO and Penta co-founder Lav Odorović.
With a team of over 50, Penta now operates from three offices located in Berlin, Belgrade, and Milan. The latter follows a recent merger with Beesy, the Italian micro-business banking startup. Penta CEO Wenthin says internationalisation will be one of the focuses following HV Holtzbrinck Ventures’ backing.
“Penta has shown an incredible amount of passion for the market, the customers, and the product: it is amazing to see what the team has built since their inception,” he says in a statement. “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. Additionally, we will push the internationalisation of Penta, starting with Italy this year”.
-
Entertainment7 days ago
What’s on the far side of the moon? Not darkness.
-
Business6 days ago
TikTok faces a ban in the US, Tesla profits drop and healthcare data leaks
-
Business6 days ago
London’s first defense tech hackathon brings Ukraine war closer to the city’s startups
-
Entertainment7 days ago
How to watch ‘The Idea of You’: Release date, streaming deals
-
Entertainment6 days ago
Mark Zuckerberg has found a new sense of style. Why?
-
Business5 days ago
Humanoid robots are learning to fall well
-
Entertainment5 days ago
2024 summer TV preview: 33 TV shows to watch this summer
-
Business4 days ago
Google Gemini: Everything you need to know about the new generative AI platform