Pennylane

Pennylane is a fintech company established in 2020, and headquartered in Paris, France. It provides a unified financial operating system designed for small and medium-sized enterprises (SMEs) and accountants. The platform centralises financial and accounting data, allowing businesses to manage invoicing, expenses, cash flow, and accounting in one place. It also enables accountants to handle bookkeeping, tax filings, and compliance efficiently.

The company’s key offerings include features such as real-time treasury management, automated data entry, expense management, professional accounts with payment cards, and simplified invoicing. Pennylane’s tools integrate with widely used platforms like Qonto, Stripe, and Shopify, enhancing its usability for a variety of business operations. Its focus on automation and AI-driven processes helps save time and ensures accurate financial data management.

Pennylane has achieved significant growth since its founding. In 2024, it attained unicorn status after raising €40 million in a Series C funding round led by Sequoia Capital and DST Global. This brought its total funding to approximately €138.5 million. The funds are being used to enhance platform features and pursue an external growth strategy, including the acquisition of complementary businesses like Billy in October 2024.

With over 200,000 business leaders and financial professionals using the platform daily, Pennylane has established itself as a reliable tool for managing financial operations. The platform supports businesses of varying sizes, from startups to larger firms, and simplifies compliance with data security standards, including ISO 27001 certification.

Looking ahead, Pennylane plans to expand from France into other European markets. Its vision is to streamline financial management for SMEs and accountants, providing them with actionable insights and enabling faster decision-making. Through innovation and strategic growth, Pennylane continues to shape the future of financial and accounting management for businesses across Europe.

Pennylane was founded in 2020 in Paris, France, by Arthur Waller, Alexandre Roquoplo, Félix Blossier, Edouard Mascré, and others. The company was established to create a comprehensive financial management platform for small and medium-sized enterprises (SMEs) and accountants. Its primary aim was to centralise financial data, simplify bookkeeping, and enable businesses to make informed decisions based on real-time information.

The company’s initial focus was on developing tools to integrate accounting, invoicing, and cash flow management in a single platform. Pennylane differentiated itself by providing features like automated data entry, real-time treasury monitoring, and seamless integrations with widely used platforms such as Qonto, Stripe, and Shopify. These tools were designed to address the fragmented nature of financial management systems and streamline workflows for businesses and accountants.

In the following years, Pennylane secured funding to scale its operations and improve its platform. It raised its first significant funding rounds, including a Series C funding of €40 million in 2024, led by Sequoia Capital and DST Global. These investments allowed Pennylane to expand its feature set, such as automated VAT filing, expense management, and financial reporting, and to enhance its AI-driven automation capabilities.

As part of its growth strategy, Pennylane acquired Billy, a company specialising in complementary financial tools, in October 2024. This acquisition aimed to strengthen its product offerings and accelerate its market presence. By 2024, the company had achieved unicorn status, reflecting its valuation of over €1 billion.

Today, Pennylane serves over 200,000 business leaders, accountants, and financial professionals across Europe. It continues to enhance its platform, focusing on simplifying financial processes and ensuring data security through ISO 27001 certification. Pennylane plans to expand further into European markets, aiming to become the go-to financial operating system for SMEs and accounting firms.

Pennylane’s mission is to simplify financial and accounting management for small and medium-sized enterprises (SMEs) and accountants. By offering a unified platform, it enables businesses to manage invoicing, expenses, cash flow, and compliance more efficiently. The company aims to centralise fragmented financial data, providing real-time insights that help entrepreneurs and accountants make informed decisions. Through automation and seamless integration with popular tools, Pennylane reduces manual work and saves time. Its focus is on creating reliable and accessible financial solutions that support businesses in achieving their goals while maintaining high standards of data security and compliance.

Pennylane envisions becoming the leading financial operating system for SMEs and accounting firms across Europe. It aims to empower businesses with a single platform that provides actionable financial insights, streamlines accounting processes, and supports strategic decision-making. By continuously improving its technology and expanding its services, the company seeks to help businesses adapt to evolving financial regulations and market demands. Pennylane’s vision includes fostering collaboration between businesses and accountants while maintaining its commitment to innovation, efficiency, and data security. It aspires to be a trusted partner for businesses preparing for the challenges and opportunities of the future.

Pennylane has gained recognition for its innovative approach to financial management and its impact on small and medium-sized enterprises (SMEs) and accountants. In 2024, the company achieved unicorn status after raising €40 million in Series C funding, highlighting its market value and growth potential. Pennylane’s user-friendly platform and automation tools have been praised for saving time and improving efficiency in financial processes. The company has also been acknowledged for its strong data security standards, holding ISO 27001 certification. These milestones reflect Pennylane’s success in reshaping financial management for businesses across Europe.

Pennylane offers a comprehensive financial management platform tailored for small and medium-sized enterprises (SMEs) and accountants. Its tools simplify financial processes, centralise data, and enable businesses to manage their finances efficiently. Below is a detailed explanation of the products and services provided by Pennylane:

Financial Management Platform

Pennylane’s core offering is its financial management platform, which integrates accounting, invoicing, cash flow, and expense management in one place. The platform provides real-time access to financial data, enabling businesses and accountants to collaborate seamlessly and make informed decisions.

Real-Time Treasury Management

This feature allows businesses to monitor their cash flow in real-time. Users can track income and expenses, view balances, and gain insights into their financial status at any moment. It simplifies cash flow forecasting, helping businesses plan for future financial needs.

Complete Accounting Suite

Pennylane’s accounting suite automates bookkeeping and compliance tasks. It includes features like automated data entry, financial reporting, and tax filing. The platform reduces errors by automating processes such as VAT calculations, invoice matching, and transaction reconciliation. It also integrates with accountants' tools, ensuring smooth collaboration.

Professional Accounts and Cards

Pennylane offers businesses access to professional bank accounts and payment cards. This service streamlines financial transactions and expense management. Employers can equip their teams with cards, set limits, and monitor spending in real-time, all integrated directly into the accounting system.

Simplified Invoicing

The invoicing tool helps businesses create, customise, and manage invoices easily. Features include automated reminders for overdue payments, integration with payment gateways like Stripe, and recurring billing options for subscription-based services. It ensures timely payments and improves cash flow management.

Expense and Purchase Management

This feature automates the tracking and approval of expenses and purchase invoices. Businesses can manage supplier payments with a single click, define workflows for purchase approvals, and upload expense receipts through a mobile app. The system categorises expenses, making it easier to analyse spending and improve cost control.

Electronic Invoicing

Pennylane is compliant with electronic invoicing regulations and provides tools to prepare for upcoming reforms. The platform allows users to generate, send, and manage electronic invoices securely, ensuring compliance with local laws.

Integrations with Business Tools

Pennylane integrates with over 300 popular tools and platforms, including Qonto, Stripe, Shopify, and Payfit. These integrations allow businesses to connect their existing systems, enabling automated data imports, seamless transaction tracking, and enhanced productivity.

Mobile Application

The mobile app enables businesses to manage their finances on the go. Users can create and send invoices, upload expense receipts, and monitor cash flow from anywhere, ensuring financial tasks are always up to date.

Collaboration Tools for Accountants

Pennylane’s platform is designed to facilitate collaboration between businesses and accountants. Accountants can access financial data in real-time, track missing documents, and provide insights directly through the platform. The system supports compliance with tax regulations and simplifies the preparation of annual accounts and reports.

Data Security and Compliance

Pennylane adheres to high data security standards, including ISO 27001 certification. This ensures that financial information is stored and processed securely, giving businesses and accountants confidence in the platform.