Pento raises £26.5m Series B to expand its automated payroll platform
The funding round was co-led by Tiger Global and Avid Ventures to support product development and team expansion.
Pento provides automated payroll solutions designed to modernise financial operations and employee compensation for European businesses.
Payroll platform Pento has raised £26.5m in a Series B funding round co-led by Tiger Global and Avid Ventures, with participation from General Catalyst, Point Nine, LocalGlobe, Latitude, Seedcamp, and Moonfire Ventures.
The capital will be directed towards accelerating product development, building deeper integrations with third-party software, and expanding customer-facing teams. The company aims to help organisations move away from manual outsourcing towards automated payroll management.
Since its Series A round six months prior, the remote-first firm has doubled its headcount to 70 employees across more than 25 cities. The latest injection of capital will also support the creation of a dedicated employee portal.
Use of funds
- 01Continue product development
