Pennylane to raise €15 million more from Sequoia Capital.

France United States 08 June 2021

Pennylane, a Paris, France-based SAAS developer of financial services platform, announced the completion of a new capital funding of €15 million ($18.3M).

The money was raised from the American investors from Sequoia Capital.

Pennylance, founded in 2020 by Alexandre Roquoplo, Arthur Waller (CEO), Edouard Mascré, Félix Blossier, Quentin de Metz, Tancrède Besnard and Thierry Déo, built an online accounting platform that has in time evolved to a full-stack accounting service sold as a SaaS in order to provide a complete view of the health of finances of a company.

The company says it works with about 1,000 companies, start-ups, and SMEs in mind, and 100 accounting firms, including names such as Luko, Yuka, and Kymono.

Pennylane previously raised €15 million Series A round from Global Founders Capital and Partech in January 2021 and €4 million in 2020.

Total investments received (USD): 40.97M