These are our candidates for the “FinTech of the Year” : Penta GmbH
The industry has grown up and has long outgrown its infancy. There are so many companies that shape the industry but not all of them are equally well known. Who are the companies that are the glue between finance and digital technologies?
We still consider it important and relevant to give an award to the most interesting and most relevant German FinTech/Startups. An award from the industry in which we are all active, for the industry. Not bought, not externally influenced, reserved for our independence. As we are diverse and furthermore everyone has different views and focuses, this has always resulted in a good mix. The nominations come from the heart, but the final evaluation process is done by us and is completely detached from us.
At this year’s presence event, the Transactions 20 conference in February 2021, we want to set the price for the Fintech of the year 2020 to lend. In total we have 15 Fintechs nominatedwhich the jury will evaluate in the next weeks according to certain categories. As every year, you are in demand as a strong voice of the Fintech community to give the audience award. The voting will start soon, but first we would like to give the nominated companies the opportunity to introduce themselves.
Penta Ltd
Penta offers a digital banking platform for freelancers, sole traders, start-ups and SMEs In addition to a digital business account, which can be fully used after 48 hours of registration, Penta also offers additional sub-accounts, a wide range of SEPA payment options for domestic and international payments, POS solutions, loans via partners, accounting integration and document management. Penta also simplifies corporate banking and accounting through team banking on user management, individual user rights and limits, and debit cards for each employee.
Facts and figures about Penta
- distribution channel: B2B
- Target group: Corporate customers
- Country of destination: Germany
- Status of financing: Series B
- Further financing planned?:
still unknown - Name of the product(s):
Penta Business Banking
“Penta offers a digital banking platform for freelancers, sole traders, start-ups and SMEs.”
The business model of Penta
Penta’s business account is aimed at small and medium-sized enterprises and sole traders or freelancers in Germany. Penta can offer a business account to every German legal form and offers 3 price plans to choose from. Penta now has over 20,000 business customers. Solarisbank AG is Penta’s banking partner.
Penta: the founders & investors
The series founders Aleksandar Orlic, Igor Kuschnir, Jessica Holzbach, Lav Odorovic, Luka Ivicevic, Matteo Concas and Sir Gabriel Holbach are united by a common experience: they have all already felt from their own companies how difficult it was to open a business account just a short time ago. After weeks of paper battles and analogue banking, the founders decided to take the problem into their own hands and founded the neobank Penta.
Penta 2018 received its first major investment in the Seed Round. Meanwhile Penta is already in Series B with currently 23 million Euro. Penta has a total funding amount of 39.7 million Euro. The investors are Presight Capital, S7V, ABN AMRO Ventures, VR Ventures, HV Holtzbrinck Ventures, RTP Global, finleap and Inception Capital. Only in July this year Penta was able to raise new capital and attract two new investors.
Milestones: what Penta has achieved so far
The most moving moment was probably when the first customer was onboard. Many, many milestones followed. Once we had brought the basics to life, such as the digital business account with the associated payment transactions and document management, we asked ourselves how we could go on. Therefore, we would like to mention an enormously important milestone with the recent integration of various accounting tools;
Because we have previously established that banking is an important part of our customers and their business lives. On the other hand, our clients face the tasks of bookkeeping on a weekly basis. Both concern finances. That’s why we wanted to offer a digital way to dovetail banking and accounting. Now the Penta Business Account can be linked to countless accounting tools, so that transactions can be synchronized automatically. This provides our customers with enormous added value and saves a lot of time and money.
Success in 2020
2020 has been an exciting year for us so far. This year we were able to celebrate our Series B financing round, which now totals over 23 million euros! But of course we must not forget our customers, after all we were able to celebrate our 20,000 customers this year. Furthermore, we were able to take home as winners the two awards “Handelsblatt Diamond Star Digital Banking Award 2020” and “FinTech Germany Award 2020”. Just last week Business Punk awarded our business account as the best for companies in formation and sole traders. Phew, it was really busy this year :)
What makes penta so special?
We are different. At all times we think from the perspective of our customers. After all, Penta was founded by founders who had the same Pain Points as many other founders and entrepreneurs. Penta is by entrepreneurs for entrepreneurs. When we develop products and solutions, we involve our customers in every small step. After all, they should use the financial solutions later. This is how we ensure that we develop exactly the solutions that offer our clients real added value. Our product roadmap is public and our customers determine which products and solutions we should develop next. In doing so, we remain transparent and we love the close exchange with our customers.
What makes your team?
Our team is diverse and colourful, but we are united by the hunger for more and the irrepressible desire to change something for the better. All members of the Penta Team are passionate team players who love transparency and open exchange. In our team, open communication is the secret recipe for new innovative ideas.
If you want to change something, you also have to actively do something about it – this is also what makes our team special. Together we advance our products and the entire company and pursue common goals.
Where do you see yourselves in the future?
In a year’s time, we will have gained significantly more customers. After all, the digital trend is unstoppable and companies increasingly appreciate the value of digital business banking solutions. This gives companies the opportunity to save time and money and to work better together as a team. Companies will increasingly appreciate this added value in the next one to five years.
We also have some features, solutions and products on our public product roadmap that we are working on and will soon be able to implement. The solutions are becoming more and more complex and sophisticated, which is why customers will soon move all their bank accounts to us, if they have not already done so. In five years’ time, we want to provide the ideal No. 1 business banking solution that is also the first choice beyond Germany’s borders. Be curious!
Last words
It is always nice to remember the answers to your questions. You can learn more about Penta on our website https://getpenta.com/ or on our blog at https://getpenta.com/de/blog/. Of course you can also find us on various social media channels. We would also like to invite you to our regular Penta Fintech Meetups. Here we discuss exciting topics with great guests.
Many thanks for giving you the opportunity to participate. We look forward to hearing from you very soon.
Best regards from the whole Penta team!
