Penta, the digital platform for business banking, raises over 8 million Euro in an investment round led by HV Holtzbrinck Ventures
- In the last few months Penta has experienced significant customer growth, extended its management team and developed from a business banking provider to a full financial service platform for companies
Penta, the digital platform that redefines business banking for small and medium sized enterprises (SMEs), raised over 8 million Euro in a funding round led by HV Holtzbrinck Ventures, one of Europe's largest venture funds, alongside finleap and Fabrick. HV counts major fintech and tech players such as payment provider SumUp, digital wealth manager Scalable Capital and mobility pioneer Flixbus within their portfolio. After the new founding round, HV has become a shareholder of Penta. They join existing shareholders finleap, Europe's leading fintech ecosystem, Fabrick, Italian platform for open banking and fintech services, and the management team of Penta
The funding comes at a time where the company positions itself at a new beginning: after the acquisition by finleap and the merger with Beesy, a finleap company in Italy focused on digital financial management solutions for micro-businesses, Penta now operates from three offices located in Berlin, Milan and Belgrade. Their team of over 50 people is led by CEO Marko Wenthin, Co-founder and former CCO of solarisBank.
Marko Wenthin, CEO Penta: “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. 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. We are very proud to welcome our new investor on board, and we are happy to work together in order to continue creating a truly innovative and digital banking experience for SMEs.”
Barbod Namini, Partner at HV: “We strive to back exceptional teams, looking to build transformational companies that challenge the status-quo and disrupt huge markets. In Penta, we found an incredibly talented team with a huge ambition and a product centric and customer-oriented approach. We are looking forward to being a close partner to Penta on the road to redefining business banking in Europe.“
Penta has shown tremendous growth, serving close to 10,000 companies with their digital banking service since their launch in December 2017. Based on its fast and easy business banking model, Penta has already launched several products in just one and a half years. These include debit cards for teams, expense management, integrated accounting solutions with Debitoor and lexoffice, and international payments in 35 currencies and 212 countries.
Penta strives to develop products closely with its customers, providing the solutions that they really need. All upcoming features can be viewed and prioritised at any time on the Open Penta Product Roadmap.
Penta is the digital platform for business banking. Companies can apply for a business account within minutes and receive a German IBAN, debit cards for expense management and other financial services. The company is headquartered in Berlin, with offices in Milan and Belgrade. The management consists of Marko Wenthin, Jessica Holzbach, Luka Ivicevic, Lukas Zörner, Matteo Concas and Igor Kuschnir.
HV Holtzbrinck Ventures was founded in 2000 and today, with more than € 1 billion under management, is one of the largest and most experienced independent European early stage venture funds. Over the years it has invested in over 165 companies, including great successes like Zalando, Delivery Hero, HelloFresh, Flixbus, SumUp, Scalable Capital, and many others.