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Penneo

Penneo

Penneo signs KYC deal with PwC Denmark

16:42 / 19 May 2022 Penneo Press release

Company Announcement No. 16-2022
Copenhagen, 19 May 2022

Penneo announces the deal to expand the cooperation and onboard PwC Denmark to Penneo's KYC software. 

The expanded cooperation is of strategic importance and demonstrates execution of a keystone in Penneo's strategy and primary investment streams; to upsell Penneo KYC to auditors across existing and new markets. The strategic focus was announced in the outlook section of Penneo's 2021 annual report.

The deal does not change Penneo's ARR guidance for 2022 which continues to be 77-82m DKK (company announcement no. 5-2022).

CEO, Christian Stendevad comments: "We are pleased to expand the agreement and sign a KYC contract with PwC. We look forward to helping them automate their KYC processes and contribute to providing the highest compliance standards."

Partner and Territory COO of PwC, Brian Staalkjær comments:"We have chosen to expand the cooperation with Penneo, as PwC is intensifying the use of technology to automate parts of our compliance process which remain a core part of our business and an area that we continue to invest significantly in."

PwC is present in 156 countries and employs more than 300,000 people globally and 2,500 at 16 offices across Denmark. PwC Denmark is an existing Penneo Sign customer.

About Penneo A/S

Penneo is a Software-as-a-Service (SaaS) provider originally established to help companies with digital document signatures. Penneo was founded by six Danish entrepreneurs, who joined forces with a shared ambition to reduce the "hassle of getting documents signed" by replacing pen and paper with a digital alternative. This new digital "pen" (Pen-neo) was launched in 2014. Today, Penneo has evolved into an eco-system of automation solutions that digitize company workflows in connection with onboarding of customers (KYC) and secure and easy signing and management of documents. The company offers a RegTech solution that gives companies an efficient and inexpensive tool for complying with regulatory requirements . Penneo holds a strong position in the Nordic countries. In Denmark alone, more than 740,000 individuals signed documents electronically with Penneo in 2021. 

For more information about Penneo, please visit: https://penneo.com/investors/

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