Penta, a digital platform for business banking aimed at SMEs and startups, has announced a partnership with the card reader giant, SumUp. Post this collaboration, the Berlin-based fintech startup will strive to serve customers like restaurants, craftsmen, healthcare, and architects.
To date, Penta was available to small and medium-sized companies that, by design, were more online savvy and eager to avoid the hassle with traditional banks. With the SumUp partnership and its move into the conventional midcap sector, Penta ́s position is strengthened as a platform for both online and tech-savvy businesses as well as traditional and offline businesses.
With Penta, they can open their accounts completely digitally, issue multiple payment cards, grant limits and permissions to their team, facilitate expense management and integrate with various accounting tools as well as accept card payments with SumUp.
Penta customers can increase their sales with a SumUp card terminal by offering cashless payment to their end customers. All booked amounts are seamlessly transferred to the Penta account of the respective company. In the future, the service is to be expanded to the extent that a sales forecast can also be created.
Penta CEO Marko Wenthin says:
Penta is the only player in the industry which started right from the beginning with a sharp focus on small and medium-sized companies who had mainly online banking needs. We are now expanding to serve traditional industries, which form the backbone of German and European society and the economy. Individual companies such as restaurants, manufacturers, architects, and healthcare professionals are forming the largest part of the SME market in Germany and Italy, but they don’t get the attention of traditional banks that they deserve. We are changing that now, together with SumUp.
Main image credits: Penta
Stay tuned to Silicon Canals for more European technology news.