Pennylane
Startup

Pennylane

French accounting and financial management platform used by more than 1.5 million business owners, freelancers and finance directors and 6,500 accounting firms, built as a shared ledger between business and firm, with e-invoicing and AI at the centre of its 2026 push across Europe.

Founded2020, Paris
FoundersArthur Waller (CEO), Edouard Mascre, Felix Blossier, Quentin de Metz, Tancrede Besnard, Alexandre Roquoplo, Thierry Déo
StageSeries E
Total fundingEUR 374m across seven announced rounds
Last roundSeries E, $204m (EUR 175m), January 2026, led by TCV with CapitalG, Blackstone, Sequoia and DST Global. Valuation $4.25bn.
What it doesBookkeeping, invoicing, payments, expense management and reporting for SMEs, with a firm-side workspace so the accountant works in the same ledger as the client
TractionMore than 1.5 million business owners, freelancers and finance directors and 6,500 accounting firms; more than 1,000 staff; valuation up from $2.2bn in April 2025 to $4.25bn in January 2026
PricingFrance, one user, excluding VAT: Free EUR 0, Starter EUR 7, Basique EUR 14, Essentiel EUR 24 a month
MarketsFrance and Germany, with a Spanish company being set up
PeersXero, Sage, Odoo, sevDesk, Holded, Qonto

Funding

Announced rounds
€374m in seven rounds
Latest round
Series E, €175m (US$204m), January 2026, led by TCV
Valuation
Valued at US$4.25bn in January 2026, at its Series E
Funding rounds, € millions
SeedMay 2020€4m
Series AJanuary 2021€15m
RoundJune 2021€15m
Series BJanuary 2022€50m
Series CFebruary 2024€40m
Series DApril 2025€75m
Series EJanuary 2026€175m
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What was Pennylane's last announced valuation?+

Pennylane was valued at US$4.25bn in January 2026, at its Series E, up from €2bn at its Series D in April 2025.

Full funding history and investors →

Why it matters

Pennylane is Europe’s most valuable accounting software startup at $4.25 billion, having nearly doubled its valuation in nine months. Its bet is the French e-invoicing mandate and a model where firm and client share one ledger, which it is now taking to Germany.

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