Shackleton investee Finleap announced today the acquisition of Penta, the digital business banking solution. Penta will complement a number of Finleap portfolio companies, and will work particularly closely with Beesy, which offers digital banking and accounting for freelancers in Italy.
Penta delivers fast and easy business banking. It counts over 5,500 digital businesses (including for example AirHelp, bepro11 and Global Digital Women) as customers. Penta clients can open a business bank account in just a few minutes, completely online. Penta gives them a fast and easy real-time overview of their finances, they can get credit cards with individual limits for their employees and even do their accounting within Penta. Penta will be releasing many new features this year including direct debits, loans, international transfers and more.
Penta will complement the services already offered by other Finleap companies to clients in the digital arena – including for example the cybersecurity service offered by Perseus and digital debt collection offered by PAIR Finance; and Finleap company Solarisbank already helps Penta to deliver its digital banking and debit card capabilities.
Ramin Niroumand, Finleap Founder and CEO welcomed Penta to the Finleap family. “The team has a great product, which matches perfectly with our existing fintech ecosystem. We believe firmly in vertical banking, and so does Penta with its focus on providing banking solutions for the digital industry. Through our strong network, we are able to accelerate Penta’s business significantly.”
Jessica Holzbach, Co-Founder Penta: “By becoming part of the finleap ecosystem, Penta moves to the next level of growth. With finleap’s powerful backbone of strategic partners, investors, tech know-how and top talents, our company can prosper at an unprecedented pace.”
As a first step, Penta will collaborate with Beesy. Beesy was launched by finleap in September 2018. The company offers services like digital banking and invoice management for freelancers, very similar to Penta’s services. Both companies aim to digitize financial management for companies and micro-businesses of the digital industry, in order to help entrepreneurs and business owners to bank less so that they can focus more on their business.
Luka Ivicevic, Co-Founder Penta: “Beesy and Penta complement one another in their respective strengths, while at the same time sharing the same vision. By collaborating, we benefit from each other by expanding our product range and focussing on a larger customer base. It is a really exciting new step ahead.”
The management team of Penta is formed by the two Penta Co-Founders Jessica Holzbach (Chief Customer Officer) and Luka Ivicevic (Chief of Staff), as well as Lukas Zörner (Chief Product Officer). Lav Odorovic, founding CEO of Penta, will step back to a shareholder role.