PennyPet

What PennyPet does

PennyPet, operated by French parent company Injoye SAS (RCS Bayonne 893 756 528), was a B2C neobank purpose-built for pet owners in France. The product centered on a dedicated French IBAN account paired with a Mastercard debit card (physical and virtual, Apple Pay/Google Pay compatible), distributed through a self-serve mobile app on iOS and Android. The core technology stack was built on Swan's banking-as-a-service infrastructure for account management, with proprietary layers including real-time expense tracking, savings Pockets with automatic purchase-rounding, a cashback engine across 60–80 partner merchants (Zooplus, Ultra Premium Direct, Franklin Pet Food, etc.), and a digital health record (Carnet de santé). Insurance products were distributed under ORIAS registration (#21002267), including an emergency accident fund (up to €500/year) and comprehensive health insurance (up to €1,000/year, 50–100% reimbursement, fixed lifetime pricing).

The business model combined tiered subscription revenue (START free, PREMIUM €8.99/month, INTEGRAL €25.99/month, plus a €35/year emergency fund add-on), affiliate/cashback revenue share from merchant partners, and insurance premium margins. GTM was product-led growth via app store distribution, supplemented by an ambassador program, association referral partnerships (7+ animal welfare NGOs), and content marketing. The company reported 15,000+ users and €5M+ in processed transactions since its 2023 launch.

In 2025, PennyPet announced a strategic pivot to Payshift, a B2B third-party payment (tiers-payant) infrastructure solution for pet health insurers enabling real-time claim settlement without upfront costs to insured pet owners. The B2C service is set to fully cease operations on December 31, 2025, while Payshift has already been deployed with 2 insurance market actors. The operating team remains small at approximately 6 people (3 co-founders Simon Garito, Jacques Oloa, and Thomas, plus front-end developer Nicolas, UX designer Laura, and 24/7 customer support).

Name

PennyPet

Legal name

Injoye SAS

Website

https://pennypet.io

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

PennyPet, operated by French Injoye SAS, was a B2C mobile neobank for French pet owners offering a dedicated IBAN account, Mastercard, cashback, savings, and pet insurance. It is pivoting to Payshift, a B2B third-party payment infrastructure for pet health insurers.

Ownership category

akta.pro rank

Product category

Pet-focused Neobank / Consumer Fintech

NAICS

Other Insurance Funds (525190)

SIC

Accident & Health Insurance (6321)

akta.pro primary industry

Revenue Cycle, Payments & Financing (Payments, Subscriptions, BNPL, Claims Support) (HLAMAGAE)

akta.pro secondary industry

Veterinary Billing, Payments & Insurance Claims Software (HLAMAMAD)

Keywords

• Pet banking
• Pet insurance
• Neobank app
• Cashback rewards
• Animal welfare finance

Headquarters

HQ city

Biarritz

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Others

Revenue model

1. Monthly Subscription Revenue: Recurring monthly fees from tiered subscription plans (START free, PREMIUM 8.99€/month, INTEGRAL 25.99€/month). Annual billing option with 10% discount. Premium tier includes emergency fund; Integral includes full health insurance.
2. Partner Cashback Revenue Share: Revenue generated from cashback partnerships with 60+ brands. Merchants pay for customer acquisition through the platform.
3. Emergency Fund Insurance Premium: 35€/year per animal for emergency accident coverage beyond what Premium includes

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

PennyPet provides a dedicated French IBAN bank account paired with a Mastercard debit card for pet owners, enabling real-time tracking and management of animal-related expenses through a mobile application. The account is bundled with cashback rewards (1–16%) at 60+ partner merchants, savings "Pockets" with automatic rounding, an emergency accident fund (up to €500/year), and optional comprehensive pet health insurance (up to €1,000/year). A solidarity mechanism donates 0.10% of every transaction to animal welfare associations.

Product overview

PennyPet is a fintech platform offering a B2C banking product dedicated to pet well-being, centered on a French IBAN account paired with a Mastercard debit card. The product portfolio includes three subscription tiers (START free, PREMIUM at 8.99€/month, and INTEGRAL at 25.99€/month), each bundling the core account with varying levels of cashback (1%-16%), savings Pockets with automatic rounding, emergency accident coverage (500€/year), and comprehensive pet health insurance (1,000€/year with 50% or 100% reimbursement). Additional features include a Solidarity Fund donating 0.10% of transactions to animal associations, and a digital pet health record. The company has pivoted toward Payshift, a B2B third-party payment solution integrated into insurance platforms for real-time claim settlement. The core account, Mastercard card, cashback program, Pockets savings, emergency fund, and health insurance function as integrated components within a unified mobile banking experience.

Differentiator

Problem solved

Functional benefit

Products and services

• PennyPet Account (Dedicated Pet IBAN Account) A dedicated French IBAN bank account for managing animal-related expenses through the PennyPet mobile app, with real-time spending tracking and integrated access to cashback, savings, and insurance features. Targeted at individual pet owners in France.
• Mastercard PennyPet (Debit Card) Physical and virtual Mastercard debit card linked to the PennyPet account, enabling contactless payments at merchants and supporting Apple Pay and Google Pay, with instant cashback of 1–16% at partner brands.
• PennyPet START Plan Free subscription tier offering basic PennyPet features: Level 1 cashback (1–8%), a virtual Mastercard, one savings pocket, and incoming transfers. Physical card and outgoing transfers require an upgrade.
• PennyPet PREMIUM Plan Subscription tier priced at €8.99/month (or €96.29/year, saving 10%) bundling the PennyPet account with up to €500/year emergency accident coverage, Level 2 cashback (2–12%), unlimited savings Pockets, and a physical Mastercard.
• PennyPet INTEGRAL Plan Top subscription tier priced at €25.99/month providing up to €1,000/year coverage for accidents and illness (50% reimbursement of vet expenses), Level 3 cashback (3–16%), and fixed-price lifetime comprehensive health insurance for dogs and cats.
• Emergency Fund (Fonds d'Urgence) Accident insurance product reimbursing up to €500 per year for veterinary medical and surgical expenses following accidents, with no deductible and a 72-hour waiting period. Bundled into PREMIUM and also sold separately at €35/year per animal.
• Pet Health Insurance (Assurance Santé Animale) Comprehensive health insurance for dogs and cats aged 2 months to 8 years covering accidents and illness with 50% or 100% reimbursement options and an annual ceiling of €1,000, with fixed lifetime pricing regardless of pet age.
• Cashback Program Cashback rewards program providing instant 1–16% cashback on purchases made with the PennyPet Mastercard at over 60 partner merchants across pet accessories, food, insurance, and pet services; rewards are credited directly to the user's PennyPet account.
• Payshift (Third-Party Payment for Pet Insurance) B2B third-party payment (tiers-payant) solution integrated into pet health insurance products, enabling real-time settlement of the insurer's share at the point of sale so policyholders no longer need to advance funds and wait for reimbursement. Already deployed with 2 market actors.

Quantifiable outcome

• Up to 500€/year reimbursed for accident-related veterinary expenses with Premium plan
• +4 more outcomes

Named customers5 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature6 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• PayshiftcoreStrategic or Co-development PartnerPennyPet is evolving into Payshift, a third-party payment (tiers-payant) solution for pet health insurers. The same team, expertise, and learnings from PennyPet now focus on enabling instant claim settlement without upfront costs for insured pet owners. Already deployed with 2 market actors.
• Solidarité Peuple AnimalminorStrategic or Co-development PartnerAssociation dedicated to connecting animal shelters with volunteers and donors. Partner in solidarity fund program; 0.10% of PennyPet card transactions donated to partner associations.
• Pet's Rescue FranceminorStrategic or Co-development PartnerAnimal rescue and protection association. Each account opening through association referral triggers 20€ donation to Pet's Rescue France.
• In Dog We TrustminorStrategic or Co-development PartnerAssociation rehabilitating dogs with behavioral disorders. Each Plus or Premium account opening via association link triggers 20€ donation.
• DVEL (Département Vétérinaire Étudiant de Lyon)minorStrategic or Co-development PartnerVeterinary student association providing free/subsidized veterinary care to pets of people in need in Lyon area. Benefits from solidarity fund donations.
• AMI Protection AnimaleminorStrategic or Co-development PartnerAnimal protection association based in Réunion Island. Each account opening through association referral triggers 20€ donation.
• SolivetminorStrategic or Co-development PartnerAssociation helping pet owners in precarious situations in Lyon region. Provides free veterinary care kits and support. Benefits from solidarity fund donations.
• KiweetominorStrategic or Co-development PartnerAssociation facilitating foster family placement for rescue animals. Benefits from solidarity fund donations supporting platform development.
• 60+ Cashback Partner BrandsminorGTM or Marketing PartnerPartner brands including Zooplus, Jinnkiss, French Bandit, AniLéo, Aloa Vacances, Biovetol, Franklin Pet Food, Ultra Premium Direct, and 50+ others. Partners offer 1-16% cashback to PennyPet users.
• Injoye SAScoreOthersParent company of PennyPet brand. Registered insurance broker and payment service provider with ORIAS (number 21002267) and ACPR oversight. Capital of 4,000€.
• SwancoreTechnology or IntegrationBanking-as-a-Service provider powering PennyPet's account infrastructure and web banking portal.
• MastercardcoreTechnology or IntegrationPayment network issuing PennyPet branded debit cards for pet expenses.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Dalma: French digital-first pet health insurance startup offering subscription-based accident and illness coverage to French pet owners. Direct competitor to PennyPet's Assurance Santé Animale and emergency fund bundles in the same French market.
• Otherwise: French pet insurance provider offering health and accident coverage for dogs and cats with a digital-first experience. Competes with PennyPet in the French pet insurance distribution layer.

Broad incumbents

• SantéVet: Leading French pet health insurance carrier with established veterinary partnerships and broad breed/age coverage. Operates in the same insurance product category PennyPet bundles but at significantly larger scale and through traditional broker and direct channels.
• Carrefour Assurance: Insurance arm of Carrefour offering pet health coverage as part of a wider multi-line insurance portfolio. Competes with PennyPet in French pet insurance but as part of a much broader retail-financial-services proposition.
• Trupanion: Public North American pet medical insurance company with vet-direct billing (PayVet) capabilities. Directly comparable on the insurance product side and a structural parallel to PennyPet's Payshift third-party-payment thesis.
• Agria Djurförsäkring: One of Europe's largest pet insurance carriers with direct claims-payment relationships with veterinarians. Comparable on insurance-product design and on the vet-direct billing model that aligns with Payshift's value proposition.
• Petplan: Major UK and North American pet insurance provider with established veterinary partnerships and lifetime coverage options. Overlaps with PennyPet's fixed-lifetime-price health insurance offering in product positioning.
• Nickel: French no-fee neo-bank distributed via tobacconists, providing basic accounts and cards to mass-market consumers. Comparable as a French neobank using Mastercard rails and Swan-style infrastructure, but without the pet-specialized vertical.

Regional players

• ManyPets: UK-headquartered digital pet insurance provider with European expansion. Operates a comparable subscription-based pet health insurance model to PennyPet's INTEGRAL plan but is primarily UK/European rather than French-domiciled.

Others

• Swan: French Banking-as-a-Service provider whose platform PennyPet uses for core accounts, KYC, and card issuing. As the infrastructure partner enabling PennyPet's stack, Swan is the closest technological analog for the company's operating model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/pennypet
• Instagraminstagram.com/pets_rescue_france

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PennyPet