French fintech Pennylane doubles valuation to $2.2 billion as Alphabet's venture capital arm takes stake
1. Pennylane secured €75 million funding, increasing its valuation to €2 billion. 2. CapitalG, Alphabet's venture arm, participated in the funding round. 3. Pennylane plans European expansion, starting with Germany. 4. The firm aims for €100 million in annual recurring revenue by year-end. 5. AI integration is central to Pennylane's future product development.