Fundz

Penny Software raised Pre-Series A funding with investment from Iliad Partners, GSI, and Knollwood Investments to digitise source-to-pay process for companies.

PRIVATEApr 15, 2024

Round Type

Pre-Series A

RiyadhSoftwareEnterprise SoftwareFintechSaaS

Investors

Knollwood InvestmentsGsiIliad Partners

Description

Saudi Arabia-based SaaS provider Penny Software has concluded a pre-Series A funding round with undisclosed value. The investment from Iliad Partners, GSI, and US-based Knollwood Investments, amongst others, will aid the company’s expansion both regionally and globally to manage over $1 billion in Gross Transaction Value in 2024.

Quick answer

Penny Software raised an undisclosed amount in a Pre-Series A round, dated April 15, 2024. Investors: Knollwood Investments, Gsi and Iliad Partners. Penny Software is based in Riyadh, Riyadh Region, Saudi Arabia.

How much did Penny Software raise?
Penny Software raised an undisclosed amount in a Pre-Series A round on April 15, 2024.
Who invested in Penny Software?
Knollwood Investments, Gsi and Iliad Partners are named as investors in this round.
What does Penny Software do?
Penny is a cloud-based Source-To-Pay solution.
Where is Penny Software based and how big is it?
Penny Software is based in Riyadh, Riyadh Region, Saudi Arabia.
Who are the decision-makers at Penny Software?
Fundz holds 1 contact at Penny Software. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who to call at Penny Software, and when

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Company Information

Company

Penny Software

Location

Riyadh, Riyadh Region, Saudi Arabia

About

Penny is a cloud-based Source-To-Pay solution. It is a modular system that is quick to implement and easy to use. Penny helps you digitize and manage your entire procurement cycle from Purchase Requisitions, Approvals, RFQs, RFP, RFIs, quotations/proposals gathering comparison and analysis, POs, GRN, and even payments. Along with vendor, contract, spend, and budget management modules. You can track your procurement in full, extract reports, and analysis. Penny Software is so easy that everyone on your team will love using it.

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Penny Software raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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