Turnover: 1.5 million EUR (2022)

Country: France

  • French fintech publisher of accounting software
  • Pennylane brings together all the tools and integrations needed to manage a company's expenses, invoicing and cash flow
  • The platform boasts over 50,000 customers

News

French Tech: Pennylane becomes the new French unicorn 09/02/2024

  • - Pennylane start-up valued at $1 billion
  • - Recently received €40 million in funding from Sequoia Capital and DST Global
  • - Since its creation in 2020, Pennylane has raised over 110 million euros
  • - The fintech's valuation has increased by 113%
  • - By 2021, Pennylane had sales of 1.5 million euros
  • - Today, sales are around 24 million euros
  • - The fintech has around 5% of the market
  • - Pennylane works with 2,000 firms and has 140,000 users
  • - Visma Group, a competitor, has achieved 2.3 billion euros in annual recurring revenues by 2023 and has raised 1 billion

DST Global acquires a stake in accounting specialist Pennylane | DST Global invests in Pennylane 02/05/2023

  • Pennylane to raise €29.5 million in the first quarter of 2023
  • Capital from DST Global: 26.5 million euros and Sequoia Capital: 2 million euros
  • Previous fundraising by Pennylane: 50 million euros in early 2022
  • Total amount raised by Pennylane: over 80 million euros
  • Post-raising valuation: 487 million euros
  • Total number of customers: 50,000 VSE/SMEs (including 12,000 files provided by the partnership with Keobiz)
  • Sales in 2021: 1.5 million euros
  • Creation date: 2020

Studies mentioning this company

The accounting software market - France

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