Berlin Fintech Penta Is Seeking Valuation Above $450 Million
- Start-up offers online bank accounts from 9 euros per month
- Penta is led by former Deutsche Bank exec Markus Pertlwieser
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The German start-up Penta Fintech GmbH, led by former Deutsche Bank AG executive Markus Pertlwieser, is seeking a valuation of between 400 million and 500 million euros ($453 million to $567 million) as it holds talks with potential investors despite a difficult market environment, according to people familiar with the matter.
Penta, which offers online bank accounts and related financial services to small businesses, has kicked off its third founding round and expects to come close to a valuation that would put it about halfway to the $1 billion threshold denoting a “unicorn,” the people said.