Global Founders et al. in €4m seed round for Pennylane
Global Founders Capital, Partech Ventures and Kima Ventures have invested €4m in a seed funding round for Pennylane, a Paris-based real-time management accounting service.
Partech is currently investing from its Paris-Saclay seed fund, a vehicle launched by French university group Paris-Saclay and backed by BPI France. Partech and Kurma Partners were designated as fund managers. A first close was held on €50m in January 2017.
The fresh capital will be used to continue developing the company's platform to simplify admin, accounting and piloting, and expand its team of experts.
Company
Pennylane was established at the end of 2019 in Paris. It is a real-time management accounting company that provides invoicing, billing, suppliers payment, cash management, accounting and forecasting services.
People
Pennylane – Arthur Waller (co-founder).
Global Founders Capital – David Sainteff (partner).
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