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Power Law company profile

Pento

Fintech · Royal Leamington Spa, United Kingdom · Founded 2016

Pento provides a cloud-based platform designed to automate and streamline payroll processes for UK businesses. The company was founded in 2017 by Jonas Bøgh Larsen and Emil Hagbarth Rasmussen. The founders' goal was to build a user-friendly payroll system that would reduce the manual work and complexities associated with traditional payroll management, inspired by their own frustrations with existing solutions. Acquired by the HR platform HiBob in February 2024, Pento now operates as a subsidiary, enhancing HiBob's human capital management offerings. The platform serves a range of clients, from small businesses to larger enterprises like Starling Bank and Capital on Tap, processing over £3 billion in payroll in 2023. Pento's business model is subscription-based, with pricing tiers determined by the number of employees. The service automates critical payroll functions, including calculations for taxes, sick pay, and parental leave, as well as payments to employees and HMRC. It integrates with various HRIS and accounting systems to ensure data synchronicity and reduce manual data entry. The platform also offers support from CIPP-certified professionals and manages year-end reporting duties, such as P60s and P11Ds. Keywords: payroll automation, HR software, payroll management, UK payroll, HMRC compliance, employee payments, financial software, payroll integration, SaaS, HR technology