POELLATH advises ABN AMRO Ventures on Penta funding round
This is the third funding round after Penta closed two rounds of funding with new investors last year. The total investment now amounts to EUR 30 million.
Penta is a digital platform for business banking for small and medium-sized enterprises, as well as solo self-employed persons and freelancers. Within minutes, companies can apply for a business account digitally and receive a German IBAN, debit cards, digital expense management and many other financial solutions. As an official DATEV marketplace partner, Penta also enables the transfer of accounting data via the official interface to DATEV. Penta claims to have well over 25,000 customers. The company is headquartered in Berlin with another office in Belgrade.
ABN AMRO Ventures is the corporate venture capital arm of Amsterdam-based ABN AMRO Bank in the Netherlands. The focus is on strategic investments in technology companies relevant to the bank and the digital transformation of its products and services. The fund has a total volume of EUR 150 million and a current portfolio of 15 companies, including 1 successful exit.
POELLATH advised ABN AMRO Ventures with the following team:
- Christian Toenies (partner, M&A/VC, Munich/Berlin)
- Dr. Sebastian Gerlinger (counsel, lead, M&A/VC, Munich/Berlin)
- Markus Döllner (senior associate, M&A/VC, Munich)
POELLATH has advised ABN AMRO Ventures on the previous financing rounds in Penta, as well as on further investments, most recently in Privitar and Crosslend.