Milestone: Digital Bank Penta Reaches 10K Business Customers

Milestone: Digital Bank Penta Reaches 10K Business Customers
Milestone: Digital Bank Penta Reaches 10K Business Customers
  • Berlin based fintech Penta announces that after only 18 months, it has reached 10,000 companies as customers.
  • The 10,000 customers is made up of companies with 2 and up to 500 employees
  • Penta is growing at a rate of 20% month over month in Germany
  • The Fintech is set to launch in Italy later this year

Digital bank Penta has announced that after only 18 months of operation it has acquired over 10,000 business customers, as its customer base continues to grow at pace. User numbers have increased over 200% since the company’s last fundraise just two months ago.

A transparent, community-driven approach and active commitment to world-leading customer service has helped Penta win favour of the German business community since launching back in early 2017.

Penta focuses on small businesses with 2-50 employees and serves larger customers like CleverShuttle and AirHelp who have 500+ employees.

Penta CEO Marko Wenthin said about the milestone: “Reaching 10,000 business is a huge endorsement for the product we’re offering and the customer’s we’re serving. We’re grateful to have such brilliant and passionate team who are going the extra mile to help serve our customers.”

In addition to being able to open a business bank account online in minutes, Penta’s customers can also issue multiple MasterCards to their team for easy expense management. In the coming months, Penta plans to introduce other exciting features including international transfers, loans and more.

68% of Penta’s new customers accounts are businesses who are switching from their existing bank to Penta, while the other 32% are businesses who are incorporating.

“Startup founders and business owners waste so much time and money dealing with annoying admin tasks. That’s why we’re offering the tools like Team Management that can help you get business banking done in a fraction of the time. We want to help businesses owners spend less time banking and more time focusing on their business,” said Wenthin.

Berlin based Penta is a challenger bank for startups and businesses that raised a €2.2 million seed round one month after launching in Germany as its customer growth has gained pace. It follows a community-focused approach, a promise to make business banking easy and a bold brand has helped the challenger bank gain wide recognition and traction in the business community in Germany.