Signal Iduna acquires stake in Neobank Penta

The investment in the business banking platform marks the start of a mutual cooperation. Both companies hope to be able to offer their customers an "all-round service".

The insurer Signal Iduna acquires a stake in the online bank Penta. The amount of the investment is unknown. According to a press release, the companies have agreed a contract for mutual cooperation. In the future, customers will also be able to take advantage of insurance and advice from Signal Iduna on the Penta platform. In return, Signal Iduna will offer Penta's services to its insurance customers.

Penta was founded in 2017 by Jessica Holzbach, Luka Ivicevic, Lav Odorovic, Aleksandar Orlic and Gabriel Holbach and is headquartered in Berlin. The start-up offers small and medium-sized companies digital business accounts as well as expense and invoice management. Signal Iduna sees the partnership as an opportunity to help its customers make their companies more digital and thus more fit for the future. The insurer's focus is on the skilled trades, retail and service sectors as well as public administration.

"The cooperation with Signal Iduna opens up completely new ways for us to reach our target groups and will further increase Penta's profile among German SMEs," says Markus Pertlwieser, CEO of Penta. Pertlwieser sees the cooperation as the next big step in creating a digital platform for the finances of the self-employed and SMEs.