Penta raises another 18.5m euros

March 18, 2020 | Banking

Written by FinTech Alliance

Penta raises another 18.5m euros

The Berlin-based business banking challenger also operates in Italy

In Brief:

  • Penta provides banking for small and medium-sized enterprises (SMEs)
  • In April 2019, it was “acquired” by Finleap, the German company builder that co-founded and also owns a stake in banking platform solarisBank,
  • The new investment sees Alex Pavlov, Partner RTP Global, join Penta’s  board

What this means

As in the UK, Europe's challenger banks are experiencing intense competition to service small and medium-sized business and to scale at a pace that will put them in a commanding position.

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