Company Announcement No. 32-2021
Copenhagen, 22 December 2021
*Contains inside information*
Penneo announces the agreement to roll out Penneo’s Sign software in Bankdata and eight financial institutions in Denmark.
Through the deal, Penneo adds Bankdata and seven financial institutions to the portfolio, as one of the financial institutions is an existing Penneo customer.
The deal with Bankdata is of strategic importance and demonstrates execution of the strategy and its investment streams announced in Company Announcement No. 26-2021. Bankdata covers approximately 20% of the market for IT solutions to the financial sector in Denmark1.
Penneo’s CEO Christian Stendevad comments on the deal: “Penneo is reaching a new milestone in the deal with Bankdata and shows that we are on track executing our strategy. This deal is also testament to the financial industry's recognition of Penneo as critical IT-infrastructure. It's an important leap forward in further establishing our market leading position. We look forward to helping Bankdata and their member institutions digitize workflows and improve their customers’ experience.“
The deal does not impact Penneo’s ARR guidance for 2021.
Bankdata provides IT solutions to the financial sector and is owned by eight Danish financial institutions. Bankdata is one of the largest FinTech companies in Denmark with more than 750 employees.
CEO, Christian Stendevad
Mobile (+45) 27 29 50 02
Grant Thornton, Jesper Skaarup Vestergaard
Direct (+45) 35 27 50 11
About Penneo A/S
Penneo A/S (Penneo) is a Software-as-a-Service (SaaS) company, originally focused on delivering the digital pen (Penneo = new pen) back in 2014. Today, Penneo has evolved into an eco-system of automated solutions that digitizes company workflows related to the onboarding of customers (KYC), as well as signing and management of documents in a secure and easy way. The Company offers a RegTech solution that helps companies comply with regulations in an efficient and inexpensive manner. Penneo has a strong position in the Nordic countries and in Denmark, where more than 620,000 individuals used Penneo’s workflow in 2020.
For information about Penneo, please visit https://penneo.com/investors/