PandaDoc, a leading quote-to-cash and contract automation platform, has recently announced its acquisition of German fintech startup Denario. The acquisition aims to expand PandaDoc’s payment solutions and further enhance its industry-leading documents and payments workflow. By incorporating Denario’s tech capabilities into its proprietary platform, PandaDoc will be able to better serve existing customers and attract new ones.
Mikita Mikado, the CEO and Founder of PandaDoc, expressed excitement about the acquisition, stating that Denario’s domain expertise, product vision, and relevant tech stack make them the perfect fit to accelerate their offerings. The integration of Denario’s embedded payments technology will allow PandaDoc users to run their businesses more efficiently, from the quote and signing stages all the way to payment collection and beyond.
Currently, PandaDoc’s solution allows users to collect payments directly from contracts. However, with the incorporation of Denario’s technology, users will have enhanced visibility into their cash flow. They will be able to manage, collect, and report on invoices alongside their contracts, all in one location. This consolidation of documents and payments will provide a seamless and frictionless workflow for small businesses.
PandaDoc’s decision to invest further in payments technology was driven by a clear understanding of small businesses’ needs for a streamlined workflow from proposal to cash. The company is dedicated to providing new payment capabilities to its users, with the anticipated release of these features starting in 2024.
Since its establishment in 2013, PandaDoc has been focused on empowering growing businesses by simplifying document workflows. The company has garnered support from renowned venture firms and corporate investors, including OMERS Growth Equity, G-Squared, Altos Ventures, Rembrandt Venture Partners, One Peak Partners, M12 (Microsoft), and HubSpot. PandaDoc takes pride in being a remote-first global company.
Denario, on the other hand, was founded in 2021 and has received backing from early-stage VCs, including 468 Capital, Presight Capital, and MPGI. The startup has also secured additional capital commitments from the European Regional Development Fund.
Through this acquisition, PandaDoc and Denario are poised to revolutionize the quote-to-cash and contract automation landscape. By combining their complementary product offerings, they aim to provide customers with a comprehensive platform that seamlessly integrates documents and payments. With their shared vision and expertise, PandaDoc and Denario are set to enhance the efficiency and effectiveness of businesses worldwide.
