Germany-based fintech Penta has raised around €8 million in its latest investment round led by HV Holtzbrinck Ventures, an early-stage venture fund, in order to enhance and expand its SMEs and startups-focused service across Europe.

According to the fintech, the fresh inflow of funds would help it in expanding its expense management tools as well as provide its clients with real-time control of their costs and expenses. Apart from the funding, it is collaborating with new partners in a bid to help the SMEs in managing their own businesses. The company aims to increase its international footprint, starting with  Italy and then expanding further.

Penta was recently acquired by the German company builder, Finleap.

Established in 2017,  Penta is the digital platform for business banking aimed at SMEs and startups. Currently, Penta has offices in Berlin, Belgrade, and Milan.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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