Pennylane secures €15 million Series A round from Global Founders Capital and Partech

Pennylane, a Paris, France-based SAAS developer of financial services, announced that it completed funding of €15 million ($18.4M) in series A capital round.

The money was raised from investors including Global Founders Capital and Partech.

Pennylance, founded in 2020 by Alexandre Roquoplo, Arthur Waller (CEO), Edouard Mascré, Félix Blossier, Quentin de Metz, Tancrède Besnard and Thierry Déo, developed an online full-stack accounting service sold as a SaaS to enable all company managers to regain full control of their finances. In less than a year, the startup has generated a revenue of more than €2 million, hired about 30 accountants and 15 developers, and now supports 500+ customers on a daily basis (mostly startups, SMEs, e-commerces, and restaurant owners).

Pennylane previously raised €4 million in May 2020.