Accounting Software Startup Pennylane Raises $204M at Reported $4.25B Valuation

Accounting software platform Pennylane raises $205m

Pennylane, a French accounting software platform, has raised €175m ($205m) in a new funding round. The round was led by growth investor TCV, which is investing in Pennylane for the first time. Blackstone Growth has also joined as a new backer. Existing investors Sequoia, DST Global, Meritech and Alphabet’s CapitalG also participated in the latest capital raise. The latest funding valued the business at around $4.25bn, according to a Bloomberg re…

TCV and Blackstone back Pennylane in €175m round

TCV and Blackstone have led a €175m ($204m) funding round in French accounting software provider Pennylane, valuing the company at around $4.25bn, according to a report by Bloomberg. The round was led by growth equity investor TCV, with participation from Blackstone and existing backers Sequoia Capital, DST Global, CapitalG, and Meritech, according to a company statement. Pennylane said the capital will be used to accelerate research and develop…

Accounting software startup Pennylane raises $204M at reported $4.25B valuation

Pennylane SAS, a Paris-based provider of accounting software, today announced that it has raised $204 million in late-stage funding from a consortium led by TCV. The investment firm was joined by Alphabet Inc.’s CapitalG fund, Blackstone, Sequoia and DST Global. Bloomberg reported that the Series E deal values Pennylane at $4.25 billion. That’s up from […] The post Accounting software startup Pennylane raises $204M at reported $4.25B valuation a…

TCV, Blackstone back French accounting software

Pennylane, a French startup company that sells accounting software, has raised €175 million ($204 million) in a funding round led by growth equity investor TCV and participation from Blackstone.