
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.
| Founded | 2020, Paris |
|---|---|
| Founders | Arthur Waller (CEO), Edouard Mascre, Felix Blossier, Quentin de Metz, Tancrede Besnard, Alexandre Roquoplo, Thierry Déo |
| Stage | Series E |
| Total funding | EUR 374m across seven announced rounds |
| Last round | Series E, $204m (EUR 175m), January 2026, led by TCV with CapitalG, Blackstone, Sequoia and DST Global. Valuation $4.25bn. |
| What it does | Bookkeeping, invoicing, payments, expense management and reporting for SMEs, with a firm-side workspace so the accountant works in the same ledger as the client |
| Traction | More 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 |
| Pricing | France, one user, excluding VAT: Free EUR 0, Starter EUR 7, Basique EUR 14, Essentiel EUR 24 a month |
| Markets | France and Germany, with a Spanish company being set up |
| Peers | Xero, 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
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.
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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