Pento is a provider of software as a service that optimizes the HR payroll process.
Pento's mission is to help free up companies from “onerous outsourcing and outdated software.
Pento was founded in 2016 by Jonas Bøgh Larsen and Emil Hagbarth Rasmussen. The company is based in Copenhagen, Denmark, with an office in London.
Pento's SaaS offering fully automates the payroll process so that payroll managers and finance teams don’t have to rely on spreadsheets, PDFs, e-mails and manual checks. It claims to reduce the amount of time its customers spend on payroll by up to 80%.
Pento works with hundreds of SMEs and mid-sized businesses with as well as larger enterprises with around 2,000 employees. Customers include Starling Bank, Pleo, Cuvva, Honest Burgers and Beauty Pie. Pento also integrates with partners such as Personio, Hibob and BambooHR.
Pento also provides infrastructure through its partnerships and integrations with existing accounting software, HR products and pension providers. It has also developed an open payroll API that is currently in beta.
Pento is backed by Tiger Global Management, General Catalyst, Avid Ventures, LocalGlobe, Point Nine Capital, Seedcamp, PreSeed Ventures, Futuristic.vc, and others. The company raised $35M in Series B round on Dec 07, 2021. This brings Pento's total funding to $54.6M to date.