Penni ApS

Penni ApS is a digital distribution solution provider specializing in embedded insurance for insurance companies and brokers, enhancing the online sale of insurance products through strategic partnerships. Founded in 2016 in Copenhagen, Denmark, Penni ApS focuses on simplifying the insurance buying process through digital solutions. The company, co-founded by Jeppe Klausen, Esben Nielsen, and Surinder Saini, has secured EUR 2 million in Seed funding on March 4, 2020. It has executed a single funding deal to date.

Jeppe Klausen currently serves as the CEO. Penni. io provides a digital distribution solution tailored for insurance companies and brokers, streamlining the sale of insurance products via embedded insurance. Their services enhance customer experience by integrating insurance offerings into various brand purchasing processes and are utilized by clients across Europe and North America, focusing on the growing demand for digital solutions in the insurance sector.

Penni. io generates revenue primarily through partnerships with insurance companies and brokers, leveraging a revenue-sharing model based on insurance premiums sold through its platform. Although specific pricing details are undisclosed, the company offers flagship services designed for seamless integration into partner platforms, potentially including subscription fees for ongoing technology access and support services. For the year 2022, the company's EBITDA was reported at EUR -4,333,017.

30. Looking ahead, Penni ApS aims to innovate its product offerings, with plans to launch new services designed for enhanced digital integration in the insurance sector. The company is also targeting expansion into additional European markets by 2025. The recent Seed funding of EUR 2 million will be strategically utilized to bolster these initiatives, supporting product development and market entry efforts.