Penta Bank A cost-efficient, fast and smart bank for SMEs in Europe Country: Germany | City: Berlin | Employees: 3 Year Started: March 2016 | Sector: B2B/Enterprise Product stage: Idea | Website: getpenta.com Team Product Team Founders: What is it? Penta Bank has four key attributes: Lav Odorovic, Finance and Operations 1.) Modern Bank Account - fast, online, great UX. MA Economics, St.Gallen. Ran a startup for two years 2.) Smart Transactions - add contracts to your and four years at Siemens HQ transactions. Enables transparent business Sir Gabriel Holbach, Design and Product relationships. IED Barcelona, Parsons Paris, BTK-FH Berlin. Ran a 3.) Treasury Management - algorithm analyzes cash- startup for two years and was a UX designer for two flow over time, proposes way to optimize it and years. predicts future needs. 4.) Fintech Applications - integrated business apps Employees, Advisors & Investors: directly into the bank account. Automates accounting, payroll, CRM and much more. Luka Ivicevic, Employee Revenue model: Direct Sales Scalability: Previous funding: N/A Average monthly revenues: N/A Planned fundraising: 300,000 EUR Market What is the need or problem being satisfied? All of us have had awful experiences with our banks in our past ventures. Whether it was the efficiency of the bank, the associated costs or the lack of modernity Competitive Advantage: Our value proposition is focused on tech driven services. E.g: smart transactions, fast, low-cost, automated escrow accounts. We are adding software integrations to empower businesses to do more, like treasury management. This approach will attract customers with a higher lifetime value. As we're growing, we're collecting massive amounts of data about them, helping us understand their needs to offer tailored services such as lending & insurance. Market Size: Our target is cashless businesses that make below €10 million in revenue per year. SMEs in Germany make up 99% of the Germany economy as well as in the EU. There are about 3.7 million businesses entities in Germany. We intend to target 70’000 newly registered companies per year as well as approximately 20% of existing less satisfied customers.