Penta, a digital marketplace for business banking, raised €18.5m in funding.
The round was led by RTP Global and HV Holtzbrinck Ventures with participation from finleap, ABN AMRO Ventures and VR Ventures. In conjunction with the funding, Alex Pavlov, Partner RTP Global, Barbod Namini, Partner HV, and Michael Hock, CFO finleap, joined Penta’s board of directors.
The company intends to use the funds to continue to extend its offerings, focusing on technology, products, customer service and marketing, and expand into other European markets.
Founded in January in 2018 by Marko Wenthin, CEO, Penta provides startups and SMEs with a digital platform for to manage business banking via credit cards for employees and a marketplace. The company has a team of over 90 people in Berlin, Germany, Milan, Italy, and Belgrad, Serbia serving over 10k clients.