Pento announced a $2.8M capital investment round led by Point Nine Capital and Seedcamp.

Germany Denmark United Kingdom Investments 10 September 2019
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Pento, a Copenhagen, Denmark-based developer of a software solution helping companies operate payroll more efficiently, announced that it completed a DKK 18M ($2.8M) capital investment round.

The funding round was raised from new and existing investors and was led by Point Nine Capital and Seedcamp. The money will be used to enter the UK market.

Pento, founded in 2016 by Jonas B√łgh Larsen (CEO) and Emil Hagbarth (CTO), provides a software as a service solution for small companies interested in a better management of their payroll. The solution automates the payroll and offer complementary features to employees, such as tax reporting, pension reporting, payslip generation, payouts to employees and tax authorities, and bookkeeping.

Pento has about 400 customers in Denmark and previously raised money two times - 1 and 2 - from investors including PreSEED Ventures and Futuristic VC.