Pennylane has raised 29.5 million euros for its financial and accounting management solution
Summary
This round table was spotted by our colleagues from Echoesthe start-up not having communicated on the subject.The fundraiser, which logically corresponds to its Series C, was led by the DST Global fund, founded by Russian billionaire Yuri Milner. Pennylane had already succeeded in bringing the large American fund Sequoia into its capital in 2021, which also participated in the last fundraising and that of 2022.According The echoesthis new transaction values the Cherbourg-based company at 487 million euros, or 13% more than its previous financing.The start-up now claims 50,000 customers, thanks to its partnerships with accounting firms. It launched a new pro account feature last September, which allows its customers to connect to a single platform to manage both their expenses and their accounting.Pennylane is also positioned in the electronic invoicing market, the generalization of which as part of the reform of the Pacte law is scheduled for July 2024, and which will transform the activity of accounting firms. From this date, all companies must have chosen a dematerialization platform to exchange their electronic invoices and transmit their data to the administration.Since May 1, a service for registering partner dematerialization platforms (PDP), which will enable companies to fulfill their obligations, has been open to the DGFiP. Pennylane has announced plans to seek certification by filing this summer.