"Paris-based fintech Pennylane has just pulled off one of Europe's most noteworthy funding rounds of the year, announcing €175 million in new capital to accelerate its push into artificial intelligence and expand its footprint across the continent. The round was led by growth investor TCV, with participation from Blackstone Growth and a group of existing backers that includes Sequoia Capital, DST Global, CapitalG and Meritech Capital."
"What makes this raise stand out isn't just the size of the cheque, though €175 million is hard to ignore in a selective funding market, but the strategic timing and purpose behind it. Pennylane says it didn't need the capital to survive; it chose to raise now to double down on AI product development and prepare for a phase of market consolidation in European financial software."
Pennylane secured €175 million in growth capital led by TCV with participation from Blackstone Growth and existing backers including Sequoia Capital, DST Global, CapitalG and Meritech Capital. The raise is intended to accelerate AI product development and fund European expansion rather than address survival needs. The company is preparing for regulatory shifts such as electronic invoicing mandates and is refining localisation for key markets like Germany. The platform aims to unify fragmented SME finance systems by embedding machine learning and automation to help accountants manage multi-jurisdiction complexity and provide more real-time financial insights.
Read at TNW | Investors-Funding
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