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About Pennylane
Industries
Data & Analytics
Enterprise Software
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
Series E
Total Funding
$443.9M
Headquarters
Paris, France
Founded
2020
Overview
Pennylane is a financial and accounting platform for SMBs and their accountants that centralizes all financial data in real time. It lets managers manage invoicing, payments, cash flow, and reporting while giving accountants a single production tool. The service is subscription-based and designed to be used by both the company and its external accountant, with real-time visibility and a single source of truth. It targets France and Europe, offering features like sales/purchase management, cash flow forecasting, dashboards, and is a certified Partner Dematerialization Platform (PDP) for upcoming e-invoicing rules.
Simplify's Take
What believers are saying
- Serves 6,000 accounting firms and 800,000 companies with 1,000 employees.
- $200M funding from TCV and Sequoia accelerates AI and European expansion.
- Billy acquisition integrates Chargebee, HubSpot, and Salesforce ecosystems.
What critics are saying
- Xero captures 20% more French SMEs via multi-language marketing in 6-12 months.
- QuickBooks undercuts subscriptions, causing 15-25% freelancer churn in 12-18 months.
- DATEV blocks Germany integrations, delaying profitability by 18 months.
What makes Pennylane unique
- Pennylane centralizes financial data for SMBs and accountants in real-time collaboration.
- Certified PDP ensures French e-invoicing compliance by September 2026.
- AI automates accounting unlike Xero and QuickBooks' global focus.
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Funding
Total Funding
$443.9M
Above
Industry Average
Funded Over
6 Rounds
Industry standards
Benefits
Remote Work Options
Company Equity
Home Office Stipend
Wellness Program
Paid Vacation
Health Insurance
Lunch Credits
Flexible Work Hours
Gym Membership
401(k) Company Match
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -1%2 year growth
↓ -2%The funding round values Pennylane at $4.25bn, according to a report.
Pennylane, a French accounting software startup, has raised $200 million in a funding round led by TCV, with participation from Blackstone Growth and existing investors Sequoia, DST, CapitalG and Meritech. Founded in 2020 by Arthur Waller, Pennylane offers an all-in-one platform combining accounting production, financial management and payments, designed for seamless collaboration between accountants and their clients. The company differentiates itself from competitors like Xero and QuickBooks through its European regulatory focus and partnership approach with accounting firms. The platform features AI-driven automation, real-time financial insights and integrated payment tools. Pennylane now supports 6,000 accounting firms and 800,000 companies, employing 1,000 people. The funding will accelerate AI development and European expansion as the company approaches profitability.
French company Pennylane is negotiating a fresh investment of around $200 million at a $4.25 billion valuation.
Pennylane, a French fintech, has secured a €75 million funding round, doubling its valuation to €2 billion. The company plans to leverage new invoicing regulations and AI to expand, focusing on France before targeting continental Europe. With 4,500 accounting firms and 350,000 SMEs as clients, Pennylane aims to capitalize on France's mandatory e-invoicing reform by 2026. CEO Arthur Waller projects $100 million ARR this year, emphasizing AI's role in enhancing accountant services.
French startups raised €163 million this week, with AI-focused companies securing €119 million. Notable funding includes Pennylane, which raised €75 million, Roof with €20 million, and Qevlar AI with €9.3 million. Other startups like PyannoteAI, Parallel, Ed AI, and Feedae also contributed to the total.
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About Pennylane
Industries
Data & Analytics
Enterprise Software
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
Series E
Total Funding
$443.9M
Headquarters
Paris, France
Founded
2020
There are no jobs for Pennylane right now.
Find jobs on Simplify and start your career today