Penta logo
Launch year: December 2017
Country: Germany
Funds raised: 18,5M €, series B, early stage venture

PENTA: banking all in one platform for SMEs

Concept description

Penta is a Berlin-based company which offers a digital financial services platform for businesses. Its main aim is to help SMEs save time and money. Penta’s strengths lie in providing company real-time spending overview, low foreign transfer rates, Mastercards for the employees linked with the company’s main bank account, with custom rules and permissions per card/employee and even some accounting features.

Penta offers multiple products:

  • Business banking (smart business bank account for start-ups and SMEs).
  • Loans (Flexible financing solutions for companies).
  • Point-of-sale banking (card reader and account for in-store card payments).
  • Kompass (business formation and share capital).

Penta’s main features go from expense management to rewards, from team cards to premium support, from automated accounting to payments. Nonetheless, its focus is to serve mainly SMEs, start-ups, foundations. At the same time Penta provides its services to “niche markets” like freelances on one side, and large SMEs on the other one. Despite less than three years from its creation, Penta is nowadays already present in multiple industries: IT services, Medical & Care, Hospitality, Travel, Transportation, Sales and Craftsmen.

The startup operates already in Germany and Italy and is targeting to enter the French and the Spanish markets within a year.

Value proposition

Small and medium-sized enterprises, but especially the very small ones, are becoming a privileged target for new banks and fintech companies that offer services tailored to their needs. The reason is that micro-companies, professional firms and innovative startups is a segment forgotten by the traditional banking system. Common banks try to offer a unique “one-fits-all” service to a reality that is instead made up of many different niches with specific peculiarities. Penta provides a technological platform that aims to define banking services for business in an open banking logic, aimed only at legal entities, individual companies or small teams.

Penta basically offers two basic services: an online current account with a German Iban supported by the banking licence of SolarisBank and company debit cards for employees, which is associated with an accounting software that simplifies the administrative management by passing the data directly to the accountant of the company.

The offer is divided into three packages ranging from the free one, with one card and one hundred banking transactions per month up to 19 euros for the premium service with five cards accompanied by accounting management services.

The startup is expanding rapidly in Europe offering itself as an extremely simple and flexible platform, to be adapted to individual countries with the collaboration of local specialized partners for the creation of additional services

Illustration (Video)

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