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Penta, the German Fintech plugs banking system for Self-Employed and freelancers

Image Credits : Ali Yahya on Unsplash

The COVID-19 has driven Fintech as a legacy and the future is surely on it. The Popular German Fintech banking service provides Penta is on the Go, Introduces accounts for self-Employed, and freelancers. 

Headquartered in Berlin, Penta is an online business banking platform for small and medium businesses. It was acquired by Finleap, a fintech builder company last year, the Finleap associates on central banking services with SolarisBank. 

Penta so far only offered services to businesses having employees between 2-50, but with the latest fundraising of $20 Million that happened in March, the team seems to stretch its executions. 

On Thursday, 14th may they announced to offer its banking products and services to Self-Employed and spolo people too. 

Did you know?  With Penta, you can get a German IBAN in minutes 

CEO Marko Wenthin, said “By opening up to the so-called liberal professions and sole traders, we have realized the great demand for good digital solutions within those segments. As a result, we are now opening up our platform to solo self-employed people as well. Our goal at Penta has always been to provide an excellent service to all those who are looking for more than just banking – and that includes a lot of self-employed people.”

Also Read: India Looks forward to setting up a Fintech Dept in assembly 

The offering is the same as the corporate offerings

Nothing differs from SMEs features, the solo account holders can also use the money transfer, receiving, multi-user access, accounting applications. 

It’s also stated that the users will also be available for future services like Opening sub-accounts within the team by creating IBAN  and managing cash flow forecasting. 

Penta is a Best Fit Fintech Project

Penta originally does not have any banking license, the company acquired these services from SolarisBank. 

Being so Lucrative since the time of launch, Penta also managed to pass fundamental and technical partnerships and currency serving more than 20,0000 active SME customers in Germany. 

Also Read : Bitcoin Price crossed $9500 today, Will it cover $10000

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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