TCV, Blackstone Back Startup Pennylane at $4.25 Billion Value

Pennylane, a French startup that sells accounting software, has raised €175 million ($204 million) in a funding round led by growth equity investor TCV.

Blackstone Inc. is also participating in the round, alongside existing investors Sequoia Capital, DST Global, CapitalG and Meritech, Pennylane said in a statement on Tuesday.