The Munich-based HR startup Penzilla has completed a seed financing round of €3.2 million. The company’s goal is to make occupational pension provision (bAV) more efficient and transparent through digitalization and automation. To achieve this, Penzilla offers a software-as-a-service solution that integrates seamlessly into existing HR systems such as Personio, SAP, HiBob, or Rexx. The platform automates all processes related to bAV – from contract management through salary adjustments to communication with insurers.
Christoph Leser, CEO and co-founder of Penzilla, explains:
“Many HR teams still manage bAV contracts with Excel spreadsheets, PDFs, and paper files. Penzilla puts an end to that. Our platform automates all processes – from contract management through salary adjustments to communication with insurers – saving valuable time and resources in the HR department.”
Penzilla provides technology for a complex topic
The financing round was led by venture capital firms Acadian Ventures and Delin Ventures. Robin Capital, Motive Ventures, Wenvest Capital, and several business angels, including entrepreneur Diana zur Löwen, also participated.
“We have analyzed the occupational pension provision (bAV) market extensively and intensively. While many players primarily act as online brokers, we see enormous untapped potential for technological innovation here. Penzilla impresses us with its well-thought-out software. The superior technology makes it possible to solve the complex challenges in bAV for large mid-sized companies and multinational corporations efficiently, transparently, and future-proof – a fundamental difference to existing solutions and a significant relief for HR departments,”
says Thomas Otter, general partner at Acadian Ventures. Iskender Dirik, partner at Delin Ventures, also emphasizes the societal relevance of the topic:
“We invest with conviction in startups that move Germany forward. Penzilla is our fund’s first investment – because occupational pensions are not a niche issue, but future security for millions.”
Penzilla was founded in 2021 by Catherine Leser and Christoph Leser. In spring 2023, the startup secured a pre-seed round of €2.5 million. Since then, the company has built strategic partnerships with providers such as Allianz, Swiss Life, Canada Life, and WWK. Customers like Lacoste, Notebooksbilliger.de, and ProSiebenSat.1 Media SE are already using the platform.
“This financing is a significant milestone for Penzilla. It enables us to continue developing our product and thus provide our customers with bAV administration with the highest reliability, efficiency, and compliance security. We are proud to work with such renowned investors who share our vision, and we look forward to taking the next steps together,”
says Catherine Leser, CEO and co-founder of Penzilla.
