Penta is one of the new online business bank accounts on the block – it offers fast online banking to small businesses and startups. There is a quick turnaround on sign up and the opportunity to fine-tune your expense management with corporate cards for your employees.
Penta is based in Berlin, Germany, where it launched in December 2017. There are plans to expand to other European countries. Penta has the backing of solarisBank AG, a banking platform that holds a full German banking license. solarisBank AG is regulated BaFin. It offers a €100,000 guarantee on deposits made to Penta.
It is possible to open a Penta account in just a few minutes online by heading to the Penta website. It should be noted that accounts are not currently offered to freelancers, although there is a waiting list should this option become viable. German businesses with the following classifications can apply; UG, GmbH, AG, GbR, OHG, PartG, KG, e.K., and eG. If you are a German business in the process of incorporation (GmbH in Gründung and UG in Gründung), you can also apply.