French fintech Pennylane raises $18 million

French fintech Pennylane, a developer of a financial management platform, has raised $18 million in a new round. The round was led by its historical investors, Global Founders Capital, and Partech, the company writes. 

Founded in 2020 by Arthur Waller, Alexandre Roquoplo, Felix Blossier, and Edouard Mascré, the Pennylane platform allows SME managers to effectively manage their businesses and make the right decisions by giving them access to all their financial data in real-time and in one place.

The new funding round will help the company recruit more than 100 talents on permanent contracts in 2021, strengthen and develop its solution, and find additional services through new partnerships.