In brief: Pennylane raises 175 million euros

French FinTech specialist in accounting Pennylane It has just announced that it had made a further major fund-raising of EUR 175 million. This round table should enable him to develop his expertise and services in general AI and to become a leader in financial technologies in Europe.

After recently developed an offer for farmers and formalized its connection with AdyenPennylane will now be able to leverage its new funds to develop its services.

FinTech has raised €175 million from TCV and Blackstone Growth, with support from Sequoia Capital, DST Global, CapitalG and Meritech Capital.

These new funds must first and foremost enable it to strengthen its R&D investments, particularly in general AI technologies.

Pennylane is also planning to strengthen its e-invoicing infrastructure and ensure its deployment in Europe with its new funds.

Finally, it will accompany 6 000 accounting firms and 800,000 companies.

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