Pennylane, a Paris, France–based accounting and financial management platform for SMEs and accounting firms, has raised €175 million in a funding round.
Investors
The round was led by TCV, with participation from Blackstone Growth and existing investors Sequoia Capital, DST Global, CapitalG, and Meritech Capital.
TCV is an investment firm focused on backing global, category-defining technology companies. Leveraging its deep industry expertise and strategic resources, TCV’s mission is to provide long-term capital and support to high-quality management teams throughout their growth journey. Since its founding in 1995, TCV has invested approximately $20 billion in over 350 technology companies worldwide. TCV has a global presence in Menlo Park, New York, and London.
Pennylane Use of Funds
The company will use the funds to enhance R&D in generative AI tools for accountants, localize the platform for German regulatory requirements, expand payment and cash management offerings, and support electronic invoicing adoption.
About Pennylane
Founded in 2020, Pennylane provides an all-in-one accounting and finance solution for small and medium-sized enterprises (SMEs) and their accountants. Its software centralizes financial and accounting data, including invoicing, expense tracking, cash flow management, bookkeeping, and real-time treasury visibility- into a single cloud-based interface. Headquartered in Paris, France, Pennylane supports electronic invoicing and serves 6,000 firms and 800,000 client companies.
Funding Details
Company: Pennylane
Raised: €175.0M
Round: Growth
Funding Date: January 2026
Lead Investor: TCV
Additional Investors: Blackstone Growth, Sequoia Capital, DST Global, CapitalG, Meritech Capital
Company Website: https://www.pennylane.com/
Software Category: Fintech / Accounting & Financial Management (SaaS)
Source: https://www.eu-startups.com/2026/01/sequoia-backed-french-accounting-unicorn-pennylane-secures-e175-million-as-it-approaches-profitability/