Penta, a German digital-only bank targeting small to medium-sized businesses (SMEs) and startups, has secured €2.2 million in funding as part of its seed round.
The funding was led by Inception Venture Capital, a new London-based fintech VC firm focused on supporting innovative financial technology solutions. This investment will be used for further hiring, product development, and fueling the company’s growth.
Penta is built upon Banking-as-a-Platform offered by solarisBank, enabling it to meet the banking needs of SMEs and startups with ease.
The platform enables Penta to integrate third-party fintech solutions and other service providers, making it easier for its target market. The marketplace will include automated accounting services, low-cost foreign exchange (FX), and multiple MasterCards that can be given out to the SME’s various employees.
Penta is completely free to open and use, with 10 free transactions per month. Any transaction after the initial 10th is charged at a rate of €0.10 cents.
TechCrunch event
Save now through June 4 for TechCrunch Sessions: AI. Save $300 on your ticket to TC Sessions: AI, and get 50% off a second ticket. Hear from leaders at OpenAI, Anthropic, Khosla Ventures, and more during a full day of expert insights, hands-on workshops, and high-impact networking.
Berkeley, CA | June 5
📚 Featured Products & Recommendations
Discover our carefully selected products that complement this article’s topics:
🛍️ Featured Product 1: Magic
Image: Premium product showcase
High-quality magic offering outstanding features and dependable results for various applications.
Key Features:
- Premium materials and construction
- User-friendly design and operation
- Reliable performance in various conditions
- Comprehensive quality assurance
🔗 View Product Details & Purchase
💡 Need Help Choosing? Contact our expert team for personalized product recommendations!
