Pennylane Revenue, Valuation, Funding & Investors

Totvs SA is a provider of information technology solutions to small and medium enterprises in the education, government, healthcare, and retail end markets. The Company's business purpose is to provide business solutions for companies of all sizes, through the development and sale of management software, productivity platforms, collaboration, and data intelligence, digital marketing, as well as the provision of implementation, consulting, advisory, maintenance services, e-commerce, and mobility. The Company operates in three reportable segments, which include the TOTVS Management segment, the RD Station segment, and the TOTVS Techfin segment. The majority of its revenues is generated from the TOTVS Management segment.

HighRadius is a Houston-headquartered provider of cloud-based autonomous finance software for the Office of the CFO. Its platform automates accounts receivable, treasury, and record-to-report processes for industries including manufacturing, distribution, consumer products, and energy. HighRadius serves over 1,000 enterprises worldwide with AI-driven cash application and credit management tools.

Freee KK is a developer of cloud-based software. Its software products include Cloud Accounting software, Cloud HR Labor software, Cloud ERP for Midsize companies, among others.

The Sage Group is a U.K.-based provider of accounting and enterprise resource planning, or ERP, software, predominantly to customers in the U.S. and Europe. The company was founded in 1981 and historically sold on-premises software products with perpetual software licenses. However, the company is transitioning toward cloud connected and cloud native products, sold via software-as-a-service, or SaaS, contracts. Sage’s main cloud native products include Sage Accounting, for small businesses, and Sage Intacct, which Sage acquired in 2017, for midsize businesses.

Workday is a software company that offers human capital management, financial management, and business planning solutions for enterprises. Known for being a cloud-only software provider, Workday was founded in 2005 and is headquartered in Pleasanton, California.

ServiceTitan Inc is an end-to-end technology platform built for contractors to transform the performance of their businesses. The Company’s platform provides business owners, technicians, customer service representatives and other key office staff with technology tools designed to help customers grow revenue, drive operational efficiencies, deliver a superior end-customer experience and monitor key business drivers in real-time. The Company also has subsidiaries in Yerevan, Armenia and British Columbia, Canada that primarily serve as research and development and support centers.

Founded in Germany in 1972 by former IBM employees, SAP is the world’s largest provider of enterprise application software. Known as the leader in enterprise resource planning software, SAP’s portfolio also includes software for supply chain management, procurement, travel and expense management, and customer relationship management, among others. The company operates in more than 180 countries and has more than 400,000 customers, approximately 80% of which are small to medium-size enterprises.

BILL Holdings Inc is a provider of software-as-a-service, cloud-based payments and spend and expense management products, which allow users to automate accounts payable and accounts receivable transactions, enable businesses to easily connect with their suppliers or customers to do business, eliminate expense reports, manage cash flows and improve back office efficiency. Initial Public Offering and Follow-on Offering.

Pleo is a Copenhagen-headquartered spend management platform founded in 2015 for European businesses. The app automates expense tracking, reporting, and approvals for teams, integrating with accounting software like Xero and QuickBooks. Available in multiple countries including the UK, Germany, and France, Pleo issues corporate cards and handles reimbursements for SMBs.

New York-headquartered Papaya Global delivers a unified global payroll platform that integrates payments, compliance, and workforce management for multinational enterprises, connecting seamlessly with HCM and ERP systems.

Qonto is a digital banking platform for European SMEs, freelancers, and startups, offering business accounts, cards, invoicing, and expense management via mobile app and web. It supports multi-currency transfers, SEPA payments, and integrations with accounting software like Xero and QuickBooks. Paris-headquartered, Qonto operates in France, Germany, Italy, Spain, and Belgium, holding banking licenses through partnerships with Solarisbank and Trees. Founded in 2017, the neobank serves over 450,000 businesses with real-time notifications and automated reconciliation.

Chargebee is a San Francisco-headquartered subscription billing platform for SaaS and e-commerce companies. It handles recurring revenue through integrations with Stripe, Zuora, and Shopify, supporting dunning, usage-based pricing, and multi-currency invoicing for clients like Pretium and Calendly. Processing billions in annual transactions across 200 countries, Chargebee offers revenue recognition compliant with ASC 606. Founded in 2011 with roots in Chennai, it serves over 20,000 businesses worldwide.

Xero is a technology company originating from New Zealand, providing cloud-based accounting software, primarily for small and midsize enterprises, or SMEs, and accounting practices. As a first mover in the space for cloud-based accounting software, Xero has grown quickly to achieve dominant market share in New Zealand and Australia, displacing legacy providers. Xero has also expanded beyond its home region toward other English-speaking countries, primarily the United Kingdom and the United States.

Money Forward Inc provides money-related services for individuals and corporations. Its service portfolio comprises personal financial management services and MF cloud services. Its personal financial management services include economic media that conveys money related themes, automatic savings app and mirai talk channel where customers can resolve their financial concerns together directly with financial planners. Its MF Cloud services comprise cloud accounting software, cloud-based tax return, invoice preparation software, payroll calculation, and cloud-based payment reconciliation.

Jeeves is a New York-headquartered global financial platform providing corporate cards, bill payments, expense management, and AI-driven accounting automation. Launched in 2019, it supports businesses in Brazil, Colombia, North America, and EMEA with tools for multi-currency transactions, serving clients like H&M, Burger King, and Nubank.

PayFit is a Paris-headquartered SaaS provider automating payroll, expense management, and HR compliance for SMEs in France, Spain, Italy, and the United Kingdom. The platform processes salaries, generates payslips, and handles social declarations integrated with local tax authorities. Serving over 250,000 companies, PayFit connects with accounting software like Sage and Xero. Founded in 2016, it raised funds from investors including Eurazeo and expanded via acquisitions like LeaveBoard for time-tracking features.

N26 is a Berlin-headquartered mobile bank operating in 24 European countries since 2013. It offers current accounts, international transfers via SEPA, investments through N26 Invest, and cash deposits at 40,000 partner retailers. The app supports Spaces sub-accounts, overdrafts up to €10,000, and cryptocurrency trading for personal and business users.

Vestwell is a New York-headquartered financial technology platform delivering workplace savings solutions including 401(k), 403(b), IRA, 529 education, emergency, and ABLE accounts. Established in 2016, it integrates with payroll providers such as ADP and Paychex to streamline enrollment and administration for employers nationwide. The API-based system supports student loan repayment benefits and serves financial advisors, institutions, and government agencies, powering accounts for businesses across the United States with a focus on accessibility for retirement, education, healthcare, and disability savings.