Pennylane raises EUR 75 million

Pennylane is a platform that integrates production software for accountants with financial management tools for clients, centralising corporate financial flows in real-time and optimising collaboration. Companies benefit from easy access to data for informed decision-making, invoicing, and purchases. Pennylane serves over 4,500 accounting firms and more than 350,000 businesses.

This fundraising initiative aims to support the company's mission of hiring 800 employees by the end of 2025. The accounting profession will play an important role in the advancements that Pennylane develops, ensuring a dynamic product that can quickly adapt to technological innovations, such as generative AI, and changes in electronic invoicing regulations. These transformations are designed to serve as catalysts for increased productivity and the creation of new services.

In accordance with the commitment charter submitted to a bailiff in September 2024, the co-founders and employees of Pennylane maintain most of the voting rights. This structure guarantees independence in making strategic and commercial decisions. This autonomy enables growth that meets the needs of chartered accountants and their clients, all while upholding compliance.

Key features of the Pennylane platform

The main potential benefits of the platform include:

• All-in-one integrated solution: combines financial management, professional account, accounting, and PDP within a single interface;

• Professionally endorsed: trusted by over 4,000 accountants who recommend it;

• Proactive compliance: anticipates and manages obligations related to electronic invoicing;

• Increased interoperability: integrates with current business tools through a robust API;

• Affordable and accessible: offered at no extra cost, easing the digital transition for businesses.

Representatives from Pennylane noted that the introduction of e-invoicing reforms in France and across the EU has prompted many companies to begin their digitisation journey. This presents a significant opportunity, and Pennylane is well-positioned to capitalise on it.