Penta Raises 18.5M Euro and Wins New Investors
Today, March 17th, 2020, we would like to share an extremely important and exciting milestone with you. We have just successfully raised 18.5M Euro in the first closing of a new funding round – backed by both new and existing investors.
As new investors, Penta welcomes RTP Global, ABN AMRO Ventures, and VR-Ventures. They join Penta’s current investors, finleap, Europes’ leading fintech ecosystem, as well as Holtzbrinck Ventures, one of Europe’s largest venture funds. Holtzbrinck Ventures is leading the round alongside RTP Global. Furthermore, we are also excited to announce that Alex Pavlov, Partner RTP Global will join Penta’s board together with Barbod Namini, Partner HV and Michael Hock, CFO finleap.
“We are very delighted to see a strong commitment from such renowned and strategic partners for our vision: Reshaping business banking for small and medium enterprises. SMEs are the engine of countries’ economies. With our approach of building a platform, by focusing on their business needs and offering them a veritable one-stop-shop of services, we go far beyond what is traditionally considered banking. By growing the round of investors, Penta will also profit from a wider network across Europe, future co-operations and a significant acceleration of growth.” shares Marko Wenthin, the CEO of Penta.
In recent months, we have experienced exponential growth. We have expanded to Italy and more than 17,000 SME’s put their trust in us. With the newly acquired funding, we will be able to accelerate our growth and further the development of Penta. Moreover, the new capital will enable our team to enhance the services and features for our clients, with a strong focus on tech, product, customer service, infrastructure, and marketing. Furthermore, we are evaluating a potential expansion into other European markets. To support our future growth we are also expanding our team and looking forward to hiring talented and passionate people to join our mission.
All of this could not have been possible without our amazing Penta Team. We are extremely proud that our new as well as existing investors have recognized our hard work and the potential that Penta brings to the Fintech industry. Trust and support coming from such renowned European investors have increased our motivation tenfold.
Last, but not least, we would like to thank the one who made it all possible for us. The one who motivated and supported us along this journey: You! We would like to thank all the Penta customers and supporters – both old and new. Thank you for your support, trust, feedback and constant motivation which is keeping us going!
It has been an amazing ride and we are looking forward to the upcoming months. We can’t wait to share new features and improvements to our infrastructure with all of you.
Your Penta Team!