Pennylane Secures €40M in Series C Funding to Expand Financial OS for European SMEs

We are thrilled to announce that Pennylane has successfully raised €40 million in our latest funding round, marking a significant milestone in our mission to revolutionize financial management for European SMEs. As a pioneering company focused on developing a comprehensive financial Operating System, Pennylane provides a seamless platform that offers a single source of truth for financial and accounting data. This innovative solution empowers entrepreneurs to manage invoicing, payments, expense tracking, and profitability while allowing accountants to streamline their bookkeeping tasks and tax filings. With this new capital, we aim to accelerate our growth and extend our footprint beyond France into other Continental European markets in 2024. Our commitment to saving time for both entrepreneurs and accountants drives us to create a product that not only enhances decision-making but also enables third parties to deliver personalized financial services. As a product-led organization, we are proud to be backed by strong investors and are actively looking to expand our remote-first engineering team with talented software engineers from across Europe. The excitement around our growth trajectory is palpable, and we are eager to continue building a robust financial ecosystem tailored for SMEs, bringing enhanced efficiency and clarity to their financial operations. Stay tuned as we embark on this exciting journey to empower businesses and reshape the financial landscape in Europe!