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Pennylane
- Paris-based fintech Pennylane has closed its Series C funding round, raising US$43m courtesy of Sequoia Capital and DST Global. In doing so, the startup has reached a valuation of US$1bn, becoming France’s latest unicorn.
fintechmagazine.com/tech-ai/french-fintech-pennylane-unicorn-status
- Becoming A French Unicorn
- Freedom and Simplicity
- One Company, A Multitude of Services
- From French Campuses to Europe
Lydia is the 22nd French startup to reach unicorn status, following Swile(Fintech – digitized meal vouchers provider) and DentalMonitoring (Healthtech – AI-based dental treatment remote monitoring) and right before Exotec (Industrial tech – warehouse robotics) and Ankorstore (e-commerce – local B2B marketplace). With the recent mini boom of new bil...
For Chiche, the many online banking services that had sprung to life in the late 1990s still worked too similarly to traditional banks, stripping users of their right to do what they wanted with their money. “They were all created by payments and electronic money experts, and they still used incomprehensible numbers and codes keeping the user disco...
Driven by this approach of always ensuring the best experience for its users, the company has extended its offer, with now more than 10 financial services: joint account, saving account, VISA card, cashback, micro-loans and even stock and crypto trading. For each one, Lydia has teamed up with technology experts able to mobilize intermediaries and m...
Lydia’s popularity in France has led some to use the expression “J’te fais un Lydia” (I Lydia you). “The first time I heard that, it was from two students in a Parisian university where I was invited to speak during a masterclass on entrepreneurship, back in 2015,” remembers Chiche. “That’s when I understood we had initiated a triple virtuous effec...
Feb 7, 2024 · Paris-based accounting platform Pennylane has raised a €40m Series C that brings the company’s valuation to €1bn — the first French startup to join the unicorn club this year amid a shaky market for fintechs.
Jun 8, 2021 · There are now 31 billion-dollar fintechs in Europe, with ten new 'unicorns' materialising so far this year — and more on their way. Among the newcomers are SaltPay and Lendable, who Sifted revealed had both quietly hitting the $1bn+ mark.
Jan 13, 2022 · HR tech startup PayFit became France’s and Europe’s first unicorn of 2022 following an early January US$289m funding round, closely followed by Paris-based online marketplace Ankorstore and French fintech Qonto, the latter raising US$552m on January 10, marking one of the largest rounds the French tech ecosystem has seen to date.
- Kate Birch
Mar 30, 2023 · While AI has been identified as the future for Paris, its present is dominated by fintech with the majority of the city’s unicorns linked to this sector. Europe’s first unicorn announcement of 2022...
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Feb 14, 2024 · In 2022, when sky-high company valuations were still fashionable, he set an ambitious target of hitting 100 French unicorns by 2030. Two years later, the country counts 30 startups that have reached a $1bn valuation — with the latest addition to the club, Paris-based fintech Pennylane, hitting the milestone a week ago.
