French Fintech Pennylane Raises €40M at €1B Valuation

Pennylane, a financial startup located in Paris, obtains €40 million in Series C funding to become the newest unicorn in France.

The fintech business Pennylane, based in Paris, reveals that it has raised €40 million in a Series C round, with the backing of current investors Sequoia Capital and DST Global. This makes Pennylane the newest unicorn in France.

According to their accurate accounting, Pennylane consistently announces ever-larger funding rounds almost exactly on schedule each year. As a result, the company's most recent round of investment comes as planned.

Pennylane was established in 2020 with the goal of becoming the go-to platform for SMEs, startups, and their accountants for financial management and accounting.