Penzilla, a Munich-based pension technology company, is transforming the way businesses manage occupational pension schemes through its digital platform.
The start-up has raised €3.2m in seed funding to accelerate product development and expand its market presence. The round was led by Acadian Ventures and Delin Ventures, with participation from Robin Capital, as well as existing backers Motive Ventures and WENVEST Capital. Prominent angel investors including Diana zur Löwen also contributed strategic support.
Penzilla offers a digital solution that automates the complex and often error-prone process of managing occupational pensions. The platform integrates with widely used HR and payroll systems such as Personio, SAP, HiBob, and DATEV, allowing companies to efficiently administer pension contracts, salary adjustments, and insurer communications.
The new capital will support Penzilla’s efforts to solidify its leadership in the German pension technology market.
The firm has already established key sales partnerships with major pension providers including Allianz, Swiss Life, Canada Life, WWK, and Signal Iduna. Its clients include Lacoste, Notebooksbilliger.de, and ProSiebenSat.1 Media SE, who use the platform to manage pensions for thousands of employees.
Penzilla managing director and co-founder Christoph Leser said, “Many HR teams still manage occupational pension contracts with Excel lists, PDFs and paper files. Penzilla puts an end to this. Our platform automates all processes – from contract maintenance and salary adjustments to communication with insurers – and thus saves valuable time and resources in the HR department.”
Acadian Ventures general partner Thomas Otter said, “We have analyzed the occupational pension market intensively for a long time. While many players operate primarily as online brokers, we see enormous untapped potential for technological innovation here. Penzilla convinced us with its sophisticated software. The superior technology makes it possible to solve the complex challenges in the occupational pension schemes of large medium-sized companies and international corporations efficiently, transparently and future-proof – a fundamental difference to existing solutions and a considerable relief for HR departments.”
Penzilla managing director and co-founder Catherine Reader said, “This funding is a significant milestone for Penzilla. It will allow us to further develop our product and continue to offer our clients pension administration with the highest reliability, efficiency and compliance security. We are proud to be working with such renowned investors who share our vision and look forward to taking the next steps together.”
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