8.6 C
New York
Thursday, May 26, 2022
Home Challanger banks Penta raises €18.5 million in last financing round

Penta raises €18.5 million in last financing round

Penta is a digital platform for business banking and it raised €18.5 million in the first closing of a new funding round backed by new and current investors.  The company is headquartered in Berlin, with offices in Milan and Belgrade.

New investors are namely: RTP Global, ABN AMRO Ventures and VR-Ventures. Penta’s current investors Finleap, Europe’s leading fintech ecosystem, and HV Holtzbrinck Ventures, one of Europe’s largest venture funds.

Penta’s main focus are small businesses with 2-50 employees but also works for larger customers like CleverShuttle and AirHelp who have 500+ employees. Companies may apply very easily to receive a German IBAN, debit cards for expense management and other financial services.

The Penta team

Alex Pavlov, Partner RTP Global: “We are always searching for exceptional teams who are ready for the sprints, prepare for the marathons and have the tenacity to grow their business and disrupt their respective market. In Penta, we found all of that: a strong team, rapid growth and the mission of solving the problems of their SME customers by thinking outside the traditional banking frame.” 

With VR-Ventures and ABN AMRO Ventures, two bank-backed funds are also supporting Penta from a strategic perspective, bringing in their expertise in different regional markets.

Sources:

https://penta.pr.co/187116-penta-raises-financing-round-at-18-5-mio-euro-in-first-closing-and-wins-new-investors/

https://www.finextra.com/newsarticle/35466/penta-raises-eur185-million-widens-investor-network

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Money 20/20: speakers and agenda

With 4,000+ attendees from 1,900+ companies and 3,100+ IRL meetings booked in 2021, Money 20/20 proved yet again that this is the fintech industry’s premier conference.

Revolut CEO Nik Storonsky launches his AI-based venture capital fund

Billionaire Nik Storonsky, the co-founder of Revolut, one of Europe's largest and richest startups, plans to launch his own AI-based venture capital fund to compete with legacy venture capitalists.

This is how Klarna will merge e-commerce with physical shopping

Klarna launches "virtual shopping" where online shoppers get access to experts in physical stores.

Revolut reached 1.7 million Irish customers

Of the 5 million population, 1.7million people from Ireland use Revolut to some extent.