Penny Software raised Pre-Series A funding with investment from Iliad Partners, GSI, and Knollwood Investments to digitise source-to-pay process for companies.
Penny Software raised Pre-Series A funding with investment from Iliad Partners, GSI, and Knollwood Investments to digitise source-to-pay process for companies.
04/15/24, 3:40 PM
Location
riyadhIndustry
fintech
enterprise software
saas
software
Round Type
series a
Investors
Knollwood Investments, Gsi, Iliad Partners
Saudi Arabia-based SaaS provider Penny Software has concluded a pre-Series A funding round with undisclosed value. The investment from Iliad Partners, GSI, and US-based Knollwood Investments, amongst others, will aid the company’s expansion both regionally and globally to manage over $1 billion in Gross Transaction Value in 2024.
Company Info
Location
riyadh, riyadh region, saudi arabia
Additional Info
Penny is a cloud-based Source-To-Pay solution. It is a modular system that is quick to implement and easy to use.
Penny helps you digitize and manage your entire procurement cycle from Purchase Requisitions, Approvals, RFQs, RFP, RFIs, quotations/proposals gathering comparison and analysis, POs, GRN, and even payments.
Along with vendor, contract, spend, and budget management modules. You can track your procurement in full, extract reports, and analysis.
Penny Software is so easy that everyone on your team will love using it.