Meet German startup Penzilla, who just raised €3.2 million for a “fair and transparent pension plan”

The Munich-based HRTech startup Penzilla has raised €3.2 million in its Seed round in order to further develop a software that simplifies the administration of company pension schemes.

The round was led by Acadian Ventures and Delin Ventures. Robin Capital and existing investors such as Motive Ventures and WENVEST Capital were also involved. Diana zur Löwen, a well known German angel investor, is also investing.

“This funding is a significant milestone for Penzilla. It allows us to further develop our product and continue our growth with determination,” says Co-founder Catherine Leser. “We are proud to be working with such renowned investors who share our vision and look forward to taking the next steps together.”

Founded in 2022, Penzilla is developing an SaaS solution for company pension schemes. Their goal is to make occupational pensions simpler, more accessible and more efficient – for employers and employees alike. Their platform helps companies assume social responsibility, while employees reportedly receive a “fair and transparent pension plan“.

With this funding, Penzilla plans to invest in market development and strengthen its position as the leading software platform for the management of company pension schemes (bAV).

“Occupational pensions are an underestimated lever in HR strategy – but they are often stuck in Excel hell,” says Co-founder Christoph Leser. “Penzilla is the first operating system that unites all stakeholders – HR department, payroll accounting, pension providers – on one platform. This saves companies time and money, reduces risks and increases their attractiveness as an employer.”

Well-known companies such as Lacoste, Notebooksbilliger.de and ProSiebenSat.1 Media SE currently employ Penzilla’s solutions.

This financing is based on a series of significant milestones:

• Development of a holistic solution that enables companies to manage their occupational pension schemes simply and efficiently
• Partnerships for automated connection to the most important personnel and payroll accounting systems (e.g. Personio, HiBob, Rexx, DATEV, etc.); an
• Sales partnerships with leading occupational pension providers such as Allianz, Swiss Life, Canada Life, WWK and Signal Iduna

Thomas Otter, General Partner at Acadian Ventures, emphasises: “We have analysed the market for company pension schemes 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 consistent software-first approach. This superior technology makes it possible to solve the complex challenges in the occupational pension schemes of large SMEs and international corporations efficiently, transparently and in a future-proof manner – a fundamental difference to existing solutions.”

Overall, companies use Penzilla to manage the occupational pension schemes for thousands of employees and pensioners. As a result, customers reportedly reduce their administrative costs, minimise legal risks and efficiently communicate the added value of occupational pension schemes to their employees.

For Iskender Dirik from Delin Ventures, added: “We invest with conviction in startups that move Germany forward. Penzilla is the first investment of our fund – because occupational pension provision is not a marginal issue, but a way of securing the future for millions.”

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