French accounting startup Pennylane has just become Europe’s latest unicorn after securing €40mn — its sixth major fundraise since the company was founded just three years ago. “We weren’t even looking for fundraising, but we welcome any opportunity to grow even faster,” Pennylane’s CEO and co-founder, Arthur Waller, boldly stated. The fresh funds have doubled the company’s valuation to €1bn, making it the first French unicorn of 2024. Pennylane — which has no relation to the famous Beatles song of the same name — has designed a SaaS tool to help accountants provide better and faster services to their clients. …
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