Bye bye banks: The Berlin-based B2B banking app Penta just closed its 22.5 million series B round
Penta, a digital platform for business banking, raised additionally more than 4 million Euros from international investors in the middle of the current corona crisis. The round finalizes the series B and adds to the first closing of 18,5 million Euros which Penta raised in March this year.
Penta was designed specially for SMEs and provides banking for more than 20.000 companies to date. The app connects the bank account with financial services, such as expense and cash flow management or billing.
“We are very grateful that we have strong partners on our side, who despite and also because of the current situation, believe in us and our work”, says Jessica Holzbach, Chief Customer Officer and Co-Founder of Penta. “Together we are building the digital future of banking.”
The round was joined by new investors such as RTP Global, ABN Amro Ventures and VR-Ventures. Former investors HV Holtzbrinck Ventures and Finleap invested as well, with Holtzbrinck Ventures as co-lead of the series.
With the new capital, Penta plans to accelerate its growth in Germany and continue developing its product offering for small and middle sized companies.
Penta is a digital platform for business banking. Companies can apply for a business account 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. Penta was founded in 2014 and has received a total amount of funding of 35,7 million Euros to date.