{"id":5668,"date":"2018-02-05T10:26:30","date_gmt":"2018-02-05T10:26:30","guid":{"rendered":"https:\/\/insights.invyo.io\/europe\/?p=5668"},"modified":"2019-04-12T17:13:32","modified_gmt":"2019-04-12T17:13:32","slug":"a-new-pan-european-b2b-challenger-bank-is-on-its-way","status":"publish","type":"post","link":"https:\/\/insights.invyo.io\/europe\/industries\/finance\/neobank-baas\/a-new-pan-european-b2b-challenger-bank-is-on-its-way\/","title":{"rendered":"A new pan-European B2B challenger bank is on its way"},"content":{"rendered":"<p dir=\"ltr\"><strong>The neobank\u00a0Penta\u00a0is announcing a \u20ac2.2 million seed round to accelerate its growth and open its modern bank account to German businesses. <\/strong><\/p>\n<p dir=\"ltr\"><a href=\"https:\/\/getpenta.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Penta<\/strong><\/a> is a Berlin-based Fintech that has launched\u00a0a <strong>challenger bank <\/strong>set to <strong>connect\u00a0startups and businesses across Germany with the best fintech<\/strong> and business apps on the market. Surfing on the new trend of marketplace banking, the start-up has built a strong\u00a0community-focused approach to make business banking much easier.<\/p>\n<p dir=\"ltr\">The investment round was led by <a href=\"http:\/\/inceptionvci.com\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"broken_link\">Inception Capital<\/a>, a FinTech focused VC based in the UK.\u00a0The funding will be used to further <strong>hiring in order to support its growing customer<\/strong> base, to build out its service and to launch its<strong> marketplace of third party products<\/strong> like <strong>automated accounting<\/strong>, <strong>low-cost FX<\/strong>, and multiple <strong>MasterCards with limits<\/strong> and permissions.<\/p>\n<p dir=\"ltr\">According to Penta\u2019s CEO and Cofounder Lav Odorovic:<\/p>\n<blockquote>\n<p dir=\"ltr\">\u201cSince our launch, we\u2019ve received a fantastic endorsement for our proposition. It shows that Germany\u2019s traditional banks are miserably failing to satisfy business owners and that our offering of a really easy to use business bank account is very attractive and useful.<span style=\"font-size: 1rem;\">\u201d<\/span><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Penta is a operating under <strong>Berlin based solarisBank<\/strong> who provides the start-up with the <strong>banking license<\/strong>. Its value proposition will come from a <strong>fast service delivered to small businesses<\/strong> who lack the people to run admin tasks, like <strong>accounting or expense management<\/strong>.<\/p>\n<blockquote>\n<p dir=\"ltr\">\u201cStartup founders and business owners waste so much time and money dealing with annoying admin tasks. That\u2019s why we\u2019re offering the tools that can help you get business banking done in a fraction of the time.\u201d Odorovic said.<\/p>\n<\/blockquote>\n<p dir=\"ltr\">Business owners in Germany can now<strong> open a bank account<\/strong> in just a few minutes, compared to several weeks at existing banks, with <strong>no fees up to 10 transactions per month<\/strong>.\u00a0Every transaction after the <strong>10th is charged \u20ac0.10 cents<\/strong>.<\/p>\n<blockquote>\n<p dir=\"ltr\">\u201cWe want to help businesses get off the ground as quickly as possible without them having to worry about annoying banking bureaucracy or paying pesky fees. That\u2019s why Penta is free to open and free to use,\u201d said Odorovic.<\/p>\n<\/blockquote>\n<hr \/>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The neobank\u00a0Penta\u00a0is announcing a \u20ac2.2 million seed round to accelerate its growth and open its modern bank account to German businesses. Penta is a Berlin-based Fintech that has launched\u00a0a challenger bank set to connect\u00a0startups and businesses across Germany with the best fintech and business apps on the market. Surfing on the new trend of marketplace [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2181],"tags":[563,1142,395,1905,1904,280,1907,307,318,1908,1906,1753,935,1279,1410,1792,217],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A new pan-European B2B challenger bank is on its way - INVYO Insights Europe : Media Fintech<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insights.invyo.io\/europe\/industries\/finance\/neobank-baas\/a-new-pan-european-b2b-challenger-bank-is-on-its-way\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A new pan-European B2B challenger bank is on its way - INVYO Insights Europe : Media Fintech\" \/>\n<meta property=\"og:description\" content=\"The neobank\u00a0Penta\u00a0is announcing a \u20ac2.2 million seed round to accelerate its growth and open its modern bank account to German businesses. Penta is a Berlin-based Fintech that has launched\u00a0a challenger bank set to connect\u00a0startups and businesses across Germany with the best fintech and business apps on the market. 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