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Penneo signs deal with KPMG Norway

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Company Announcement No. 15-2021
Copenhagen, 26 May 2021

Today, Penneo announces the agreement to expand the partnership with KPMG and onboard KPMG Norway’s customers to Penneo’s KYC software.

The deal is testament to the augmented value proposition provided by the acquisition of CLA Reply’s Know-Your-Customer (KYC) software, acquired by Penneo as announced in Company Announcement No.8-2020. The deal is a result of the commercial focus of 2021 to roll out the KYC software to auditors across existing and new markets, which was announced in the Annual report for 2020. 

The deal with KPMG Norway does not change Penneo’s short-term ARR-guidance (Company Annoncement No. 12-2021) which continues to be 45-47m DKK for 2021-H1 and 54-59m DKK for 2021.

Nicolaj Højer Nielsen, Interim CEO comments: “It’s a big milestone for us to extend the agreement and sign a KYC contract with KPMG Norway. We look forward to helping KPMG Norway automate their KYC processes and contribute to providing the highest compliance standards.”

“Penneo offers an innovative market-leading KYC software for audit and accounting firms. The KYC software has strong global potential that taps into the increasing focus of global Anti-money laundering (AML) and KYC challenges for audit and accounting firms.” says Nicolaj Højer Nielsen, Interim CEO of Penneo.

KPMG is present in 146 countries and employs more than 226,000 people globally and 1,425 at 25 offices across Norway. KPMG is an existing Penneo customer in Denmark and Norway.


 

Further information

Interim CEO, Nicolaj Højer Nielsen
Mobile (+45) 25 46 25 80
PENNEO A/S

Certified Advisor
Grant Thornton, Jesper Skaarup Vestergaard
Direct (+45) 35 27 50 11

About Penneo A/S

Penneo A/S (Penneo) is a Software-as-a-Service (SaaS) company, originally focused on delivering the digital pen (Penneo = new pen) back in 2014. Today, Penneo has evolved into an eco-system of automation solutions that digitizes company workflows related to onboarding of customers (KYC), and signing and management of documents in a secure and easy way. The Company offers a RegTech solution that helps companies comply with regulations in an efficient and inexpensive way. Penneo has a strong position in the Nordics and in Denmark, where more than 620.000 people used Penneo’s workflow in 2020.

For information about Penneo visit https://penneo.com/investors/

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