B2B Payments

SMB Digital Bank Penta Now Serves Self-Employed

self-employed

As it grows its target market and takes a wider position in the market, Penta is now providing its product as well as services to solo self-employed individuals. The business banking platform’s 20,000 clients have mostly been small and medium-sized businesses (SMBs) as of now with two to 50 staffers, in addition to founders, according to an announcement.

“By opening up to the so-called liberal professions and sole traders, we have realized the great demand for good digital solutions within those segments,” Penta CEO Marko Wenthin said in the announcement. “As a result, we are now opening up our platform to solo self-employed people as well. Our goal at Penta has always been to provide an excellent service to all those who are looking for more than just banking — and that includes a lot of self-employed people.”

Penta began onboarding freelancers with a minimum of one employee like lawyers and doctors, among others, as a first step in December of last year. Now, self-employed professionals and freelancers can use the complete banking service of the company that comes with functions like multi-account aggregation, multi-user access for the accountant or integrated accounting software.

Wenthin also noted, “With the broader positioning and expansion of our target and customer audience, Penta becomes the platform for all entrepreneurs, whether with or without employees, in foundation or already active on the market for years, whether doctor, pharmacist, online shop, translator or carpenter.”

In separate news, Penta had finished a $20.4 million funding round per a report in March. RTP Global was the company’s lead contributor alongside past investor HV Holtzbrinck Ventures as well as other investors. Alex Pavlov, RTP Global partner, will become a part of the company’s board with the completion of the round.

Penta, for its part, is headquartered in Berlin and has offices in Belgrade as well as Milan.

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