Berlin based Penta, a challenger bank for startups and small businesses, has been acquired by fintech venture builder finleap.
Launched in May last year, Penta moved out of private beta in December with a wait-list comprising 3000 local businesses. The company, which has raised EUR7.2 million in funding since inception, currently counts 5,500 digital businesses like AirHelp, bepro11 and Global Digital Women as customers.
For finleap, the acquisition dovetails with its positioning as a provider of bundled solutions for startups and banks, melding stand-alone products across common platforms.
Penta, which already piggy-backs off the banking licence of finleap portfolio company solarisBank, will thus be integrated with Beesy, another company from the Berlin-based fintech factory, which provides digital financial management for sole proprietors and self-employed persons in Italy.
Ramin Niroumand, founder and CEO finleap, comments: "We believe firmly in vertical banking, and so does Penta with its focus on providing banking solutions for the digital industry. Through our strong network, we are able to accelerate Penta’s business significantly.“
Editorial | what does this mean?