Good Heavens! French Firm Pennylane Just Doubled Its Worth! What's Next?!

A Most Diabolical Valuation Increase!

Right then listen up you simpletons! Pennylane a rather *French* accounting software firm (quelle surprise!) has managed to double its valuation to a staggering 2 billion euros! Two BILLION! It's almost enough to fund my interdimensional time machine... almost. Apparently some venture capitalists with more money than sense have thrown 75 million euros their way in a new funding round. Honestly it's enough to make one hurl. Where's Rupert when I need him to fetch a barf bag?

Intuit Who? Pennylane's Continental Conquest

Apparently this Pennylane claims to be some 'all in one' platform for accountants. Think QuickBooks but with more *je ne sais quoi*. They're targeting small and medium sized firms. I mean really? Small businesses? How pedestrian. I'm much more interested in world domination thank you very much! But apparently their CEO a chap named Arthur Waller says they're adapting it to the 'needs of continental accountants.' Oh the drama!

From France With Accounting!

For now Pennylane is only slumming it in France. But fear not they have *grand* plans! After this latest influx of cash they're setting their sights on Europe starting with Germany. Germany! Can you imagine the paperwork? It's enough to give one a headache. Waller hopes to reach product maturity in Germany in a mere two years. Ambitious I'll give him that. Though I conquered the entire playground in a single afternoon.

Show Me the Money! (And the R&D)

Pennylane expects to end the year with about 100 million euros in annual recurring revenue. Not bad I suppose for a bunch of number crunchers. And get this: they claim to be reaching profitability by year end. The audacity! Waller boasts that 75% of their costs are research and development. Probably trying to figure out how to make spreadsheets less mind numbingly boring. Good luck with that mate.

More Minions! Er Employees!

With all this new found riches Pennylane plans to hire more…minions! I mean employees. They're aiming for 800 by the end of 2025 up from the current 550. More bodies to do the grunt work I presume. I of course prefer a much smaller more dedicated team. Preferably one that includes a highly trained chimp in a tuxedo.

AI: Because Accountants Aren't Boring Enough!

And of course no self respecting tech company can exist without jumping on the artificial intelligence bandwagon. Pennylane is using AI to help accountants automate bookkeeping and free up time. They are calling it a 'co pilot' for accountants. Honestly it's all a bit… much. Can't we just stick to good old fashioned paper cuts and filing errors? But the CEO Waller sees opportunity in e invoicing. He calls it a 'huge market.' Someone get me a bib I'm drooling with anticipation!