Pennylane funding: rounds, investors and valuation
Pennylane, based in Paris, has raised €374m in seven announced funding rounds since May 2020. Its Series E of €175m (US$204m) in January 2026 was led by TCV, with Blackstone Growth, Sequoia Capital, DST Global, CapitalG and Meritech Capital participating, at a US$4.25bn valuation. Its previous announced valuation was €2bn, in April 2025.
Funding over timeCumulative € raised across announced rounds; each tick on the axis is a round
The latest round, the €175m Series E in January 2026, is also the largest: 47% of the €374m raised across its announced rounds. Rounds have come a median of 8.5 months apart.
Show the figures
| Round | Announced | Amount | Total after it |
|---|---|---|---|
| Seed | May 2020 | €4m | €4m |
| Series A | January 2021 | €15m | €19m |
| Round | June 2021 | €15m | €34m |
| Series B | January 2022 | €50m | €84m |
| Series C | February 2024 | €40m | €124m |
| Series D | April 2025 | €75m | €199m |
| Series E | January 2026 | €175m | €374m |
Pennylane funding roundsNewest first
- Jan 2026Series ELed by TCV, with Blackstone Growth, Sequoia Capital, DST Global, CapitalG and Meritech Capital.Accountio article€175mUS$204mValuation US$4.25bn
- Apr 2025Series DLed by Meritech Capital and CapitalG, with Sequoia Capital and DST Global.€75mValuation €2bn
- Feb 2024Series CInvestors: Sequoia Capital and DST Global.€40mUS$43m
- Jan 2022Series BInvestors: Sequoia Capital, Global Founders Capital and Partech.€50mUS$57m
- Jun 2021RoundInvestors: Sequoia Capital.€15mUS$18m
- Jan 2021Series ALed by Global Founders Capital and Partech.€15mUS$18.4m
- May 2020SeedInvestors: Global Founders Capital, Partech and Kima Ventures.€4m
Pennylane investors
- Sequoia Capital
- Series E, January 2026; Series D, April 2025; Series C, February 2024; Series B, January 2022; Round, June 2021
- Global Founders Capital
- Series B, January 2022; Series A, January 2021 (lead); Seed, May 2020
- Partech
- Series B, January 2022; Series A, January 2021 (lead); Seed, May 2020
- CapitalG
- Series E, January 2026; Series D, April 2025 (lead)
- DST Global
- Series E, January 2026; Series D, April 2025; Series C, February 2024
- Meritech Capital
- Series E, January 2026; Series D, April 2025 (lead)
- TCV
- Series E, January 2026 (lead)
- Blackstone Growth
- Series E, January 2026
- Kima Ventures
- Seed, May 2020
Pennylane funding: common questions
How much has Pennylane raised?+
Pennylane has raised €374m across seven announced funding rounds since May 2020. The latest was a €175m (US$204m) Series E in January 2026.
Who invested in Pennylane?+
TCV led the Series E in January 2026, with Blackstone Growth, Sequoia Capital, DST Global, CapitalG and Meritech Capital participating. Meritech Capital and CapitalG led the Series D in April 2025, with Sequoia Capital and DST Global participating. Global Founders Capital and Partech led the Series A in January 2021.
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.
When did Pennylane last raise money?+
Pennylane's most recent round was a €175m (US$204m) Series E announced in January 2026, led by TCV.
More on Pennylane: Full profile · All funding in January 2026 · All funding in April 2025 · Directory listing
Part of Accountio’s accounting technology funding tracker.
