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Pennylane has raised $82 million in a funding round led by Sequoia Capital. The new funds will be used to expand across Europe, starting with Germany.
Amount Raised
$82 Million
Round Type
Funding Round
ParisFinancial ServicesSoftwareFinanceSaaSFintechAccountingInvestors
Description
Pennylane, a French accounting software startup, has raised €75 million (US$82 million) in a round led by Sequoia Capital, doubling its valuation to €2 billion (US$2.2 billion). The company will use the new funds to expand across Europe, starting with Germany, where it aims to reach product maturity in two years. Founded in 2020, Pennylane provides accounting tools for SMEs and accounting firms. It serves 4,500 firms and 350,000 businesses in France.
Fundz sees it the moment Pennylane raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Related People
Pennylane raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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