What is Penny.?
Penny. is a Saudi Arabia-based software provider and B2B marketplace platform, established in 2020. The company specializes in offering innovative payment solutions designed to streamline procurement and spending activities for businesses. Its platform aims to enhance efficiency and transparency in financial transactions within the corporate sector.
How much funding has Penny. raised?
Penny. has raised a total of $5M across 1 funding round:
Angel/Seed
$5M
Angel/Seed (2022): $5M with participation from Shorooq Partners, Plug and Play Tech Center, Hambro Perks ORYX Fund, Outliers VC, Class 5 Global, and Wamda
Key Investors in Penny.
Shorooq Partners
Shorooq Partners is a leading MENA-based alternative investments manager specializing in venture capital and private credit, known for partnering with visionary founders across various sectors to fuel growth.
Plug and Play Tech Center
Plug and Play Tech Center, established in 2006, operates as an early-stage investor, accelerator, and corporate innovation platform with a global presence.
Hambro Perks ORYX Fund
Hambro Perks ORYX Fund is an investment entity participating in the funding round, contributing to Penny.'s growth initiatives.
What's next for Penny.?
With the recent influx of capital, Penny. is poised to further expand its market reach and enhance its technological offerings. The company's focus on B2B payment solutions for procurement and spending activities positions it well to capitalize on the growing demand for digital financial tools in enterprise environments. Future developments are expected to include scaling operations and potentially introducing new features to its marketplace platform, solidifying its role as a key player in the region's fintech landscape.
See full Penny. company page
