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.
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.