Pennylane

Pennylane is a French software company that operates an all-in-one financial management and accounting platform used jointly by businesses and their external accountants. The product centralises financial data, invoices, expenses, purchases, tax returns, financial statements and treasury in a single online dashboard, giving both the company and its adviser a shared, real-time workspace. Reported capabilities include electronic invoicing, integrated purchase management, receipt capture, expense categorisation, bank reconciliation and a professional account with card services.

The platform is positioned for start-ups, small and mid-sized companies, freelancers, finance directors and accounting firms across Europe, with the bulk of activity in France and a recent launch in Germany. As of January 2026 the company reported use by roughly 6,000 accountants and 800,000 businesses, and its sign-up page claims more than one million business leaders, independents and finance directors have adopted the product. Following its January 2026 round the company said it would concentrate investment on research and development, notably generative-AI features such as an analysis copilot, plus payments and cash-management functionality.

Founding story

Co-founder and CEO Arthur Waller and the founding team interviewed 25 to 30 startups and identified a mismatch between the tools accountants needed and what business leaders required, with financial insight remaining siloed at the accounting firm. Waller, who had previously exited a company to Booking.com, set out to build a single financial operating system. Pennylane began accepting customers in March 2020.

Business model

B2B software sold to companies and to accounting firms that use the shared platform with their clients; the company also offers a professional account with card services alongside its accounting and invoicing tools. Sources describe recurring revenue (ARR) as the reported revenue measure.

Recurring software revenue: cofounder Arthur Waller said the company was on track to reach €100m in annual recurring revenue in 2025, and the company describes itself as nearly profitable as of January 2026.

Traction

Reported ~6,000 accountants and 800,000 businesses on the platform as of January 2026; more than 1 million users claimed on the company's sign-up page; on track for €100m ARR in 2025 and described as nearly profitable. The company grew to 117 customers in its first months after opening to customers in March 2020.

Latest developments

In January 2026 Pennylane announced a €175m ($205m) Series E led by TCV, with Blackstone Growth as a new investor and participation from Sequoia Capital, DST Global, CapitalG and Meritech, valuing the company at about $4.25bn. CEO Arthur Waller said the company had no immediate need for funding but took low-dilution capital to remain independent while accelerating AI work and European expansion; funds are targeted at R&D, the German product, and payments and cash-management features.