HR platform HiBob Acquires Pento

HR platform HiBob has acquired the Copenhagen and London-based payroll platform Pento. Mazanti Transactions acted Danish counsel to the American VC firm General Catalyst, the largest shareholder in Pento, in connection with the sale to HiBob.

The real-time automated payroll software platform, founded by Jonas Bøgh Larsen and Emil Hagbarth Rasmussen in 2016, targets the error-prone use of spreadsheets, PDFs and emails and provides employers with cloud-based tools and real-time calculations that generate greater transparency when it comes to payroll. Pento has raised $54 million in VC funding including from General Catalyst and Tiger Global.

HiBob aims to disrupt the Human Capital Management (HCM) sector by providing an alternative to traditional platforms with its award-winning software ‘Bob’. The acquisition of Pento and its technology will enable HiBob to offer an ‘all-in-one’ experience with payroll as part of the Bob offering, enabling UK businesses to efficiently solve payroll complexity.

Mazanti Transactions acted Danish counsel to General Catalyst in connection with the transaction.