Penta, a German fintech, secured an impressive EUR 30 million in a Series B top-up round.
The funding event witnessed existing investors, including RTP Global, finleap, Presight Capital, ABN AMRO Ventures, HV Capital, S7V, and VR Ventures.
On the progress front, the company recently entered a partnership with savings marketplace Raisin and released a brand-new range of corporate term and overnight deposits. Overall, the partnership is expected to enable the fintech’s customers to enjoy higher interest rates by investing in Raisin deposit products through their accounts.
Markus Pertlwieser, Penta’s new CEO, said, “After Penta developed the market-leading digital business account last year, I’m now delighted to be able to invest in further growth and partnerships with this new financing round.”
Last year, the company secured an impressive EUR 18.5 million in a funding round with brand-new investors like ABN AMRO Ventures, RTP Global, and VR Ventures.
Led by HV Holtzbrinck Ventures and RTP Global, the round witnessed participation from finleap, an existing investor.
The fintech states that Alex Pavlov, Partner RTP Global, will join Penta’s board along with Michael Hock, CFO, finleap, and Barbod Namini, Partner HV Capital.
The investor’s take
Hugo Bongers, Head of ABN AMRO Ventures, said, “We have been working with Penta and its management team for quite some time and are now delighted to intensify our partnership. We see Penta as an important player in reshaping digital banking for SMEs, but also for founders. This is a core topic in ABN AMRO’s strategy.”
Founded in 2018 in Germany, Penta operates as the digital platform for business banking and focuses on SMEs and start-ups.