PandaDoc has acquired Berlin-based fintech startup Denario in a move that aims to further accelerate its growth into the leading all-in-one documents and payments workflow platform. Terms of the deal remain undisclosed. 100 percent of Denario team members are expected to retain their positions and will be added to PandaDoc's remote workforce.
The acquisition will see PandaDoc integrate Denario's B2B SaaS solutions for payment management specialties, thereby amplifying its documents and payments workflow. The relationship between PandaDoc and Denario is nothing new, as the two have been working closely since Q2 of 2022.
PandaDoc CEO and founder Mikita Mikado commented:
"We are thrilled to welcome the Denario team into the PandaDoc family. The company’s domain expertise, product vision, and relevant tech stack make them the ideal fit to accelerate our offerings. We are committed now more than ever to empower PandaDoc users to run their businesses more efficiently from quote to signing, to payment collection and beyond, and adding Denario’s embedded payments technology to our product suite will greatly advance this mission.”
While PandaDoc's existing solution efficiently streamlines payment collection through contracts, this strategic endeavor will substantially broaden users' insights into their cash flow management. The centralised platform aims to provide users with the ability to oversee, collect, and generate reports for invoices, all within a unified interface that integrates contracts seamlessly.
San Francisco-based PandaDoc is backed by OMERS Growth Equity, G Squared, Altos Ventures, Rembrandt Venture Partners, One Peak Partners, M12 (Microsoft), and HubSpot.
Founded in 2021, Berlin-based Denario is backed by 468 Capital, Presight Capital, and MPGI, and the European Regional Development Fund.
Lead image: Heye Jensen