Paris-based fintech company Pennylane has raised €75M from notable investors to bolster its financial operating system, targeting European SMEs. This funding, following a €40M Series C round, will help expand staff and enhance integrated financial services, positioning Pennylane as a leader in electronic invoicing. With plans to grow from 550 to 800 employees, half in R&D, the company aims to evolve its offerings in response to upcoming electronic invoicing reforms across Europe, effectively tripling its SME user base within a year.
This fundraising illustrates the confidence of our investors and confirms our ambition to make Pennylane the benchmark solution in integrated financial management and electronic invoicing.
This opportunity allows us to further accelerate the development of additional services around purchase and sales invoices and to offer companies and firms a fully integrated and interoperable solution.
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