Pennylane
A single roll-up of ownership and CLOUD Act exposure.
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EU-Sovereign EU/EEA/Switzerland-owned and -operated, with no identified CLOUD Act exposure.
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EU-Based EU-operated, with at most minor or transient US exposure.
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EU-Hosted This listing EU hosting available, but a US parent or hyperscaler sub-processor creates material exposure.
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US-Linked Operated by a US-incorporated entity, directly subject to US jurisdiction.
French unicorn accounting + financial-management platform for SMEs and accountants; $4.25B valuation at the January 2026 Series E, heavily US-VC-funded.
Pennylane offers EU hosting in Ireland, but a US parent or sub-processor leaves material CLOUD Act exposure. It is listed under Accounting.
Assessment notes
Pennylane (Paris, France, founded 2020) is ISO 27001 certified and a French-government-approved electronic-invoicing platform; however the company has raised $770M+ of mostly US capital from Sequoia Capital, DST Global, CapitalG (Alphabet), Meritech Capital, TCV, and Blackstone Growth, making it the most US-VC-funded French SaaS in the accounting space; ownership signal flips to eu_hq_us_funded and CLOUD Act exposure to material via investor influence.
Findings
- CLOUD Act
- CLOUD Act exposure
How exposed customer data is to US authorities under the CLOUD Act (Clarifying Lawful Overseas Use of Data Act).
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None EU operator, no US parent, no US sub-processors of note.
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Minor A transient US sub-processor (CDN, maps); data at rest stays in the EU.
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Material This listing US parent, or a core sub-processor is a US-owned hyperscaler.
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Direct The operator itself is US-incorporated.
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- Ownership
- Ownership
Where ultimate control over the operating company sits.
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EU-owned EU-incorporated and EU-controlled; no significant US ownership.
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EU HQ, US-funded This listing EU-headquartered but US venture- or PE-controlled.
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EU subsidiary, US parent European operating company owned by a US parent company.
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US-owned The operating company itself is US-headquartered.
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Other A non-EU jurisdiction. Swiss/EEA-owned vendors count as European here; the UK and others do not.
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- Sub-processors
- — not disclosed
Verified signals
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EU / adequacy hosting: Yes
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EU / adequacy operator: Yes
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No US CLOUD Act exposure: No
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Public DPA: No
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Sub-processors disclosed: Yes
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Open-source clients: No
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Third-party certification: Yes
Jump to
About Pennylane
Pennylane (Paris, France, founded 2020) has rapidly become one of Europe's most-talked-about accounting platforms: over 1 million users including freelancers, SMEs (PME/ETI), and accounting firms, accredited as a plateforme agréée under the French e-invoicing regime, ahead of the 1 September 2026 date from which every French company, micro-entreprises included, must be able to receive an electronic invoice. ISO 27001 certified. The product is genuinely French-built and French-operated, but the cap table is heavily US: Sequoia Capital, DST Global, CapitalG (Alphabet's growth fund), Meritech Capital, TCV, and Blackstone Growth are all on the books, with $770M+ raised across 8 rounds and a $4.25B valuation at the January 2026 Series E. For procurement-grade buyers this is the canonical "Made in France, capitalised in the USA" case study.
Sub-processor map · not disclosed
Frameworks & certifications
Capability matrix
Table 1Capabilities of Pennylane
Integration & access
Compliance & governance
Pricing & tiers
Public documents
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missingData Processing Addendum (DPA)— missing
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OpenSub-processors listwww.pennylane.com/fr…
Alternatives in this category
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Norway · €9/moEU-HostedCLOUD Act exposure
How exposed customer data is to US authorities under the CLOUD Act (Clarifying Lawful Overseas Use of Data Act).
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None EU operator, no US parent, no US sub-processors of note.
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Minor A transient US sub-processor (CDN, maps); data at rest stays in the EU.
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Material This listing US parent, or a core sub-processor is a US-owned hyperscaler.
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Direct The operator itself is US-incorporated.
Public DPA: Yes Sub-processors: Yes Open source: No -
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Norway · €20/moEU-HostedCLOUD Act exposure
How exposed customer data is to US authorities under the CLOUD Act (Clarifying Lawful Overseas Use of Data Act).
-
None EU operator, no US parent, no US sub-processors of note.
-
Minor A transient US sub-processor (CDN, maps); data at rest stays in the EU.
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Material This listing US parent, or a core sub-processor is a US-owned hyperscaler.
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Direct The operator itself is US-incorporated.
Public DPA: Yes Sub-processors: Yes Open source: No -
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Germany · €7.90/moEU-HostedCLOUD Act exposure
How exposed customer data is to US authorities under the CLOUD Act (Clarifying Lawful Overseas Use of Data Act).
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None EU operator, no US parent, no US sub-processors of note.
-
Minor A transient US sub-processor (CDN, maps); data at rest stays in the EU.
-
Material This listing US parent, or a core sub-processor is a US-owned hyperscaler.
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Direct The operator itself is US-incorporated.
Public DPA: Yes Sub-processors: Yes Open source: No -
| Product | Sovereignty | CLOUD Act | Signals | From |
|---|---|---|---|---|
Conta
Norway
|
EU-Hosted | CLOUD Act exposure
How exposed customer data is to US authorities under the CLOUD Act (Clarifying Lawful Overseas Use of Data Act).
|
Public DPA: Yes
Sub-processors: Yes
Open source: No
|
€9/mo |
Fiken
Norway
|
EU-Hosted | CLOUD Act exposure
How exposed customer data is to US authorities under the CLOUD Act (Clarifying Lawful Overseas Use of Data Act).
|
Public DPA: Yes
Sub-processors: Yes
Open source: No
|
€20/mo |
Lexware
Germany
|
EU-Hosted | CLOUD Act exposure
How exposed customer data is to US authorities under the CLOUD Act (Clarifying Lawful Overseas Use of Data Act).
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Public DPA: Yes
Sub-processors: Yes
Open source: No
|
€7.90/mo |