Pennylane, a start-up which develops a platform bringing together accounting and financial management tools for VSEs and SMEs, announces this October 3 the acquisition of the young company Billy for an undisclosed amount, by cash and exchange of shares . The latter, founded in May 2022, develops connectors for software in the fields of accounting, e-commerce, cash management and customer relations.
Billy’s platform allows, for example, the link between management and accounting software, to automatically transmit all invoice details. To date, the start-up supports 57 integrations with invoicing, e-commerce and CRM software, including Salesforce, HubSpot, Spendesk and more recently Shine. Billy already offers integration tools between Pennylane and 31 other software programs, such as Sellsy, where the connector allows CRM quotes to be converted into invoices on Pennylane’s side. The start-up claims 8,000 users in 1,500 client companies, with one million invoices whose processing was accelerated last year thanks to its platform.
Billy’s ten employees will join Pennylane, which now has more than 500 employees. The acquisition should enable the French start-up to facilitate process automation for accountants using its platform as well as for its corporate clients, thereby saving them time. Pennylane has embarked on an external growth strategy since its last fundraising in February. It then raised 40 million euros, giving it unicorn status. The start-up now claims 200,000 users, compared to 140,000 at the start of the year.
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