Pennylane, a Parisian fintech startup, has secured €40 million

Pennylane, a Parisian fintech startup, has secured €40 million in Series C funding and reached unicorn status with a €1 billion valuation. The round was supported by existing investors Sequoia Capital and DST Global. Pennylane is transforming financial management for startups and SMEs with its platform that centralizes financial data. Its services have seen a 40-fold increase in users in two years. It is also developing AI tools to further enhance accounting efficiency.