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TCV and Blackstone back Pennylane in €175m round

privateequitywire

5 months ago

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TCV and Blackstone have led a €175m ($204m) funding round in French accounting software provider Pennylane, valuing the company at around $4.25bn, according to a report by Bloomberg.
The round was led by growth equity investor TCV, with participation from Blackstone and existing backers Sequoia Capital, DST Global, CapitalG, and Meritech, according to a company statement.
Pennylane said the capital will be used to accelerate research and development, including the build-out of AI-driven tools to...

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