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Focus on liquidity support for small and medium-sized enterprises in the region

Volksbank Bielefeld-Gütersloh cooperates with Berlin Fintech Penta

Bielefeld/Gütersloh, May 28, 2020.

Volksbank Bielefeld-Gütersloh is expanding its successful cooperations with Fintechs from the German start-up scene. The cooperative bank is now the first regional institute to cooperate with the Berlin company Penta. The customers of the digital platform for business banking are primarily small and medium-sized enterprises, some of them from the East Westphalia-Lippe region. The aim of the cooperation is to provide them with urgently needed liquidity support during the Corona crisis.

Volksbank Bielefeld-Gütersloh gained access to Penta via the new cooperative venture capital fund "VR Ventures", which the local bank helped to set up at the beginning of the year and which is managed by Berliner Volksbank. The investment focus is on start-ups in the financial sector and the real estate industry as well as related digital solutions for small and medium-sized companies. “VR Ventures" participated with two million Euros in the latest financing round initiated by Penta to support further growth of the company, which was founded at the end of 2017. In March 2020 alone, the start-up gained 1,400 new customers, and a total of around 20,000 companies are using Penta's service. 

Ulrich Scheppan, member of the Managing Board of Volksbank Bielefeld-Gütersloh, is particularly pleased that the financial contribution has turned into a close collaboration in a very short time: "We are the first regional bank ever to cooperate with Penta. This shows that we are recognised as financial experts not only in the traditional SME sector, but also among Fintech start-ups".

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Volksbank Bielefeld-Gütersloh intends to contribute its regional expertise to the cooperation. It is planned, for example, to apply for liquidity assistance from the Corona Special Programme to the state development bank KfW for Penta customers from Bielefeld and the Gütersloh district. The house bank principle will apply. So far, fintechs have hardly played any role in the distribution of the funds, as they are not accredited by KfW as partners to be allowed to distribute these funds. "Thanks to the cooperation with Penta, we can also quickly help companies from the region that are not Volksbank customers. In this difficult phase, we are providing the domestic economy with reliable support and full commitment," said Ulrich Scheppan. In the future, further options for collaboration are conceivable, for example around the automation of personal data checks as well as business data of new customers, the KYC process (Know Your Customer) for short.

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Marko Wenthin, CEO Penta: "We are pleased to have Volksbank Bielefeld-Gütersloh as a strong cooperation partner on our side. This partnership will enable us to provide at least our corporate customers based in Ostwestfalen-Lippe with quick and easy access to state liquidity support via Volksbank. I also see it as a good pilot project that others could quickly follow.”

About Penta

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, Henrik Jondell and Igor Kuschnir. 

About Volksbank Bielefeld-Gütersloh

With total assets of EUR 4.63 billion and more than 750 employees, Volksbank Bielefeld-Gütersloh is one of the major Volksbanks in Germany and promotes innovative companies: Even part of the regional SME sector, the cooperative bank is successfully involved as a strong partner of the East Westphalian start-up scene in the domestic start-up networks. Last year, the corporate customer advisors supported start-ups with a volume of almost 10 million euros. Through its participation in a venture capital fund, Volksbank continues to invest in the future of the banking business.

Contact for media Penta:

Solveig Rathenow

Head of Venture Communication


Contact for media Volksbank Bielefeld-Gütersloh:

Dennis Will


Telefon: 0521 544-264


About Penta

Penta is the leading neo-bank for Small- and Medium-Sized Enterprises (SMEs), sole proprietors and freelancers. Penta’s home market is Germany, Europe's largest economy.

As a curated digital platform, Penta has an attractive offering for daily banking, a marketplace for loans, deposits and insurance from first-class partners, as well as many beyond-banking services for entrepreneurs.

Since 2017, Penta has been working alongside SMEs day by day as their digital finance expert (Digital CFO) so that entrepreneurs can concentrate fully on what they are passionate about: their customers and their business.

As a young company, Penta chose to do things differently - both in relation to its customers and also in terms of sustainability and diversity. Today, Penta has 200 employees from 30 nations serving 50,000 customers. And since 2020, Penta has been doing this in a climate-neutral way.

Über Penta

Penta ist die führende Neo-Bank für kleine und mittelständische Unternehmen (KMU) Selbständige und Freiberufler. Der Heimatmarkt von Penta ist Deutschland, die größte Volkswirtschaft Europas.

Als kuratierte digitale Plattform verfügt Penta über ein attraktives Angebot für das tägliche Banking, einen Marktplatz für Kredite, Einlagen und Versicherungen von erstklassigen Partnern sowie viele darüber hinausgehende Dienstleistungen für Unternehmer.

Seit 2017 begleitet Penta KMU Tag für Tag als ihr digitaler Finanzexperte (Digital CFO), damit sich Unternehmer voll und ganz auf das konzentrieren können, was ihnen am Herzen liegt: ihre Kunden und ihr Geschäft.

Als junges Unternehmen hat sich Penta entschieden, Dinge anders zu machen - sowohl in Bezug auf seine Kunden als auch in Bezug auf Nachhaltigkeit und Vielfalt. Heute hat Penta 200 Mitarbeiter aus 30 Nationen, die 50.000 Kunden betreuen. Und seit 2020 tut Penta dies klimaneutral.

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