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Interlaw’s Danish Firm Advises General Catalyst on its Investment in Payroll Platform
Interlaw’s partner firm in Denmark, Mazanti-Andersen has advised General Catalyst and Avid Ventures in relation to a multi-million dollar investment in Copenhagen-based software platform, Pento.
Pento raised $15.6 million in Series A funding led by General Catalyst, which is an American venture capital firm. Avid Ventures and LocalGlobe also participated in the round alongside existing investors Point Nine Capital, Moonfire Ventures, Hustle Fund and Seedcamp and angel investors from Stripe, Monzo, GoCardless, Zoom, Cuvva and Intercom among others.
Pento is a real-time automated payroll software platform, founded by Jonas Bøgh Larsen and Emil Hagbarth Rasmussen in 2016, that targets the error-prone use of spreadsheets, PDFs and emails and provides employers with cloud-based tools and real-time calculations that generate greater transparency when it comes to payroll.
Pento will use the funding to expand their talent pool, enter new markets and further refine its product offering.
Partner Frederik B. Hasling and associate, Julie Høi Nielsen of Mazanti advised General Catalyst and Avid Ventures in connection with the investment.