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S7V and Presight back Penta's €4m series-B extension

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S7V and Presight Capital have backed a €4m extension to business banking startup Penta's series-B funding round, bringing its series-B total to €22.5m.

In March 2020, HV Holtzbrinck, RTP Global, ABN Amro Ventures, VR Ventures and Finleap backed the initial phase of the series-B, committing €18.5m in total.

Penta plans to use the fresh capital to support its growth in Germany and to develop its product portfolio for SMEs, according to a statement.

Founded in 2019, Presight is headed by entrepreneur and investor Christian Angermayer, with Angermayer's family office Apeiron as its main backer. The firm closed its debut fund in August 2019 – the $80m vehicle invests in US-based startups that are seeking European expansion.

New investor S7V focuses on early-stage and growth opportunities. It has previously backed fintech startups including BNext, Addi and Facily.

Previous funding
In February 2018, Spain-based Inception Capital led a €2.2m seed round for Penta. The firm led a subsequent €7m round in October 2018.

Penta was acquired by Finleap and merged with its subsidiary Beesy, an Italy-based banking platform for freelancers, in April 2019. Inception sold its shares as part of the transaction.

HV led an €8m round for Penta in August 2019, with participation from existing corporate investor Fabrick.

In March 2020, HV, RTP Global, ABN Amro, VR Ventures and Finleap backed the first closing of Penta's latest funding round.

Company
Founded in 2017, Penta is an online banking platform for businesses, providing clients with a German IBAN and debit cards for expense management and financial services.

The company is based in Berlin, with additional offices in Belgrade and Milan. It has 116 employees, according to LinkedIn. Penta had more than 10,000 customers as of September 2019.

People
Penta – Marko Wenthin (CEO).
HV Holtzbrinck Ventures – Barbod Namini (partner).
RTP Global – Alex Pavlov (partner).
ABN Amro Ventures – Hugo Bongers (managing director).
Finleap – Michael Hock (CFO).
S7V – Oleg Gordienko (managing partner).
Presight Capital – Christian Angermayer (co-founder).

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