Pennylane wants to overhaul current tools and modernize the tech stack of accounting firms, by connecting directly with third-party services that hold valuable information. Accounting firms can use Pennylane collaboratively by accessing the platform to centralise receipts, create invoices and automate tasks. Instead of sending information back and forth with spreadsheets and photo attachments, both clients and accounting firms can interact directly on the platform.

Pennylane has a significant market opportunity ahead, with an ambitious goal to become the preferred management platform for European companies. The company already claims 50,000 customers, and has raised impressive funding that will support hiring and development towards further improving its offering.