The Berlin-based business banking challenger also operates in Italy
- 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.