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penny. logo — Procurement Solved.

penny.

Procurement Solved.

Founded 2020 Saudi Arabia Saudi Arabia 65 employees Seed Total: $6.35M Analytics, Automation +3

General Information

Company Name penny.
Founded Year 2020
Location Saudi Arabia Saudi Arabia
Employees 65
Industries Analytics, Automation, B2B +2
Funding Stage Seed
Business Model B2B, SaaS, Platform
Revenue Model Subscription, Usage Based, Service Fee
Social

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About penny.

penny. is a promising player in the AI-Powered Procurement arena, positioning itself as a transformative force with its slogan, "Procurement Solved." Founded in 2020, the company is based in Saudi Arabia and operates at the intersection of Analytics, Automation, B2B, Enterprise Software, and SaaS industries.

Offering a comprehensive cloud-based Source-To-Pay solution, penny. streamlines the procurement cycle, managing processes from Purchase Requisitions to payments. Its modular system, praised for its ease of implementation and use, includes vendor, contract, spend, and budget management modules, enhancing team adoption and effectiveness.

Fresh off a Seed Round investment on 15 April 2024, the company attracted a diverse portfolio of backers including Wamda Capital, Class 5 Global, Iliad Partners, Knollwood Investment Advisory, Shorooq Partners, Outliers Venture Capital, Oryx Fund, Dallah Investment, GSI Ventures, and the Al Tuwaijri Fund. With robust investor confidence, penny. stands poised for impactful growth and further market penetration.

Business keywords: Cloud-based Solution, Source-To-Pay, Procure-To-Pay, Procurement Cycle Management, Purchase Requisitions, Vendor Management, Contract Management, Spend Management, Budget Management, Digital Procurement, E-Sourcing, B2B Marketplace, RFQ Management, Quotations Analysis

Services & Products

AI-driven Procurement Solutions
E-procurement Platform
Vendor Management
Expense and Savings Management
B2B E-commerce as a Platform
Procurement as a Service
Bidly.ai Sourcing AI Tool

Target Customers

Enterprises Procurement Professionals Finance Teams Supply Chain Managers IT Departments

Funding Rounds & Investors (3)

View All
Funding Stage Amount Investors Lead Investors Date
Seed Round Undisclosed 10
Wamda Capital Class 5 Global Iliad Partners
Wamda Capital, Class 5 Global +8
15 Apr 2024
Seed Round $5.00M -
16 Jan 2022
Seed Round $1.35M -
21 Sep 2020

penny. Alternatives & Competitors

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penny. vs
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penny. vs
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FAQ About penny.

Procurement Solved.
penny. was founded in 2020.
penny. is headquartered in Saudi Arabia.
penny. operates in Analytics, Automation, B2B, Enterprise Software and SaaS. Its work centres on Cloud-based Solution, Source-To-Pay, Procure-To-Pay and Procurement Cycle Management. Its customers include Enterprises, Procurement Professionals and Finance Teams.
penny. has a B2B, SaaS and Platform business model. Its revenue comes from Subscription, Usage Based and Service Fee.
penny. has approximately 65 employees.
penny. has completed 3 funding rounds, raising a total of $6.35M. The latest funding stage is Seed.
penny. offers: AI-driven Procurement Solutions, E-procurement Platform, Vendor Management, Expense and Savings Management, B2B E-commerce as a Platform, Procurement as a Service, Bidly.ai Sourcing AI Tool.
Top alternatives and competitors to penny. include JAGGAER, Zycus, Procurify, Supplycart, Scoutbee. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
penny. and JAGGAER are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for penny., https://bouncewatch.com/company/penny-software, updated 17 April 2026. When citing, please name BounceWatch and link this page.

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