Describe the company – the elevator pitch …

Penta offers a digital bank account for businesses in Germany that’s easy to use and helps business owners spend less time banking and more time focusing on their business. You can sign up online for free in minutes.

How are you different?

We’re 100% digital. And we don’t have any legacy systems in place. So everything is real-time and super easy to use. Just like Slack or Trello. In the coming months, we’ll be introducing the Penta Business App Store that gives business owners the fintech tools and products they need to scale quicker, to save more money and to spend less time banking.

Tools that we plan to integrate are: low-cost FX, multiple MasterCards, cash-flow management and prediction, as well as instant loans.

The biggest advantage here for business owners (and what makes us quite different from legacy banks) is that we’re able to integrate the best business and financial tools directly in the Penta account. Helping us always stay ahead of the industry.

Why will you do well?

Our founding team have all had startups in the past. Some of which have raised millions and exited. So we know how it’s like to start a startup with just a few people, and we also know how to scale a business to dozens of employees. A Penta account is designed to help businesses scale and we want to be with you every part of the way. Most importantly: the tools we plan to integrate from 3rd parties always allows us to stay ahead of the game. Whether it’s the most innovative cash-flow management and prediction app to the best loan provider, we’re always going to stay ahead of the game thanks for our partners.

Where are you based?

We’re based in Berlin, Germany and we’re only available for German businesses.

When was the company launched?

After several months of testing, we just launched on the 12th of December! We have over 3,000 businesses on our waitlist and we’re adding hundreds more everyday. We’re looking to send an invite to everyone who is waiting for a Penta account in the coming weeks.

What have been your biggest wins to date?

Our first customers have been massively helpful in helping us improve our initial product. Without them we wouldn’t have been able to launch and get such great exposure and attention. From our very first customer to every customer who has joined today, all the feedback we’ve received has been outstanding. That’s why our biggest win has been getting busy business owners to use Penta, so that they can (hopefully!) see the benefits of Penta compared to legacy banks and ultimately help us improve our offering for business owners.

Who are you trying to attract to your product?

We’re building Penta for high-tech companies, 2-50 employees. These founders and or executives that open an account with Penta usually use Slack or Trello on a daily basis and want a business bank account that’s just as easy to use as the tools they use everyday.

What tips would you give to others looking to build their business?

This is a bit cliche, but the most important thing you can do is to speak to customers. Speak to people are much as possible and get as much feedback as possible about what you’re building. Just don’t hide from feedback. Because a lack of feedback will kill your business.

Lastly, as YC says: you’re more likely to die of suicide than murder. So focus on your team and your customers. Don’t worry about your competitors.

Tell us about your team?

Our team comes from companies like Rocket Internet, Bearingpoint Consulting Citi, Barclays, Morgan Stanley, as well as various high-tech startups. This gives us a great advantage in knowing how to run a business properly. It also gives us experience from tech, to banking and everything in between.

What are your plans for the future?

We’re rolling out Penta in the coming weeks to everyone on our waitlist while speaking to partners who can provide the best fintech and business apps that we can provide our customers. Our goal by the end of 2018 is to on-board 10,000 German businesses.

What are your favourite tech gadgets?

If you asked me 10 years ago, I’d say a PSP, or a few other gadgets. But my iPhone now does just about everything. Oh, and my Penta card!

How do people get in touch with you?

You can reach out directly to me at [email protected].

Edited and prepared by Amy Murphy, Journalism student from DCU.


If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at [email protected] or on Twitter: @SimonCocking

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