Penny Software opens a new office in Derby, UK, to extend its Saudi source-to-pay platform into the UK and European markets. The company describes the office as a base to drive AI-enabled procurement and further expand its global footprint.
KPMG deepens its procurement technology offering through an alliance with Penny Software, pairing its advisory expertise with the Saudi source-to-pay platform. The combined offering serves enterprise procurement clients in the region.
Penny Software, a Saudi Arabia-based B2B SaaS procurement startup, secures a pre-Series A funding round led by Iliad Partners, with GSI and Knollwood Investments participating. Existing investors Dallah Investment, Hambro Perks Oryx Fund, Class 5 Global, the Altuwajiri family fund, and strategic angels also participate in the round.
Penny Software announces a partnership to launch Mastercard Track Business Payment Service in Saudi Arabia and the MENA region. The launch extends its source-to-pay procurement and business payments offering across the region.
