Panenco
Belgian cloud-native digital product studio co-building B2B SaaS and enterprise AI products for clients through discovery, pilot, and managed-service engagements across Leuven, Antwerp, and Kyiv.
- Company typePrivate
- Founded2014
- HeadquartersLeuven, Belgium
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Panenco does
Panenco BV is a Belgian cloud-native digital product studio founded in September 2014 in Leuven, operating across three locations (Leuven, Antwerp, and Kyiv post-Inect acquisition). The company functions as a B2B SaaS and enterprise AI studio, co-building and operating digital products for enterprise clients through three engagement modalities: a fixed-price 'AI Discovery Track' (€8k, 2 weeks), a 'Pilot Build' phase (€32k T&M over 8 weeks, ~€40k full track), and long-term structural managed-service partnerships. Co-built assets include QIT Online (mental health SaaS serving 1,000+ therapists), Seaters (sponsorship SaaS used by KPN, BNP Paribas, ING, and Paris 2024), and Valcori (procurement SaaS). The studio is ISO 27001:2022 certified (DQS-audited) and runs a sales-led GTM targeting enterprise clients. Revenue streams span fixed-price AI engagements, T&M pilot builds, and consolidated managed services, with a stated revenue target of €5M following the January 2026 Inect acquisition that scaled the team to 40 specialists.
Panenco firmographics
Firmographics- Name
- Panenco
- Legal name
- Panenco BV
- Website
- https://panenco.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Belgian cloud-native digital product studio co-building B2B SaaS and enterprise AI products for clients through discovery, pilot, and managed-service engagements across Leuven, Antwerp, and Kyiv.
- Ownership category
- akta.pro rank
Panenco industry classification
Industry- Product category
- Enterprise AI & B2B SaaS Software Development Services
- NAICS
- Custom Computer Programming Services (541511), Software Publishers (513210)
- SIC
- Services-Computer Programming Services (7371), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- AI Application Enablement Platforms (Copilot/Agent Frameworks, SDKs) (HDAEANAJ)
- akta.pro secondary industry
- Integration, API & Middleware Consulting (BPAHAEAJ)
Keywords
Where Panenco is headquartered
LocationHeadquarters
- HQ city
- Leuven
- HQ country
- Belgium
- HQ region
- Europe
Markets served
Panenco business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- AI Discovery Track (fixed-price strategy engagement): Two-week, €8k fixed-price engagement that produces an AI use-case roadmap. Acts as a top-of-funnel land motion that converts to larger pilot builds.
- Pilot Build (Time & Materials): Eight-week pilot engagement at €32k T&M (~€40k full-track operational product) where Panenco embeds with the client's team to deliver a working AI product; bi-weekly sprints with daily standups. Primary recurring revenue driver.
- Long-term structural partnerships with SaaS product companies: Multi-year co-building/co-owning arrangements with select clients (e.g., QIT, Valcori, Xwork) where Panenco combines product management, design, engineering, GTM support, and customer success to operate and scale their product over time.
- Consolidated project / studio services revenue: Headline consolidated revenue target ~€5M post-Inect acquisition, combining bespoke software studio project work, AI implementation, and product partnerships across Leuven, Antwerp, and Kyiv.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | One time/ perpetual license | AI Discovery Track: €8k fixed for a 2-week strategy engagement |
| Other | — | Pilot Build: €32k T&M for an 8-week pilot |
Go-to-market motion1 record
Panenco product offering
Product offeringCore offering
Panenco is a Belgian software studio that defines, builds, and deploys enterprise AI solutions and B2B SaaS products for ambitious SMEs, scale-ups, and innovative corporates. Its flagship structured engagement is the AI Discovery Track, a two-phase program combining a two-week fixed-price strategy workshop (€8k) with an optional eight-week time-and-materials pilot build (~€32k T&M / ~€40k full track) that takes AI use cases from roadmap to live product. Beyond discovery engagements, the studio delivers cloud architecture, full-stack software engineering, AI implementation (RAG, computer vision, generative AI, agentic workflows), and technical audits, and it co-founds and structurally partners with select SaaS products such as QIT Online, Seaters, and Valcori.
Product overview
Panenco is a Belgian software studio (Panenco BV, VAT BE0650.747.066) positioned as a centre of excellence for B2B SaaS and Enterprise AI, with three offices in Leuven (HQ, Diestsevest 25), Antwerp (Franklin Rooseveltplaats 12), and Kyiv (123 Beresteyskyi Avenue). Its core service offering is the AI Discovery Track — a structured two-phase engagement that pairs AI strategy workshops with an optional pilot build — supported by six delivery capabilities (AI strategy, Product definition, Architecture, Software engineering, AI implementation, Technical audit). Beyond consulting work for clients like PwC Belgium, Siemens, Johnson & Johnson, DataCamp, argenx, CatalyX, ING, BNP Paribas, and DTCC, Panenco co-founded and structurally partners with three named SaaS products: QIT Online (mental-health platform used by 1,000+ psychotherapists), Seaters (enterprise sponsorship SaaS used by KPN, BNP Paribas, ING, Paris 2024), and Valcori (AI-powered procurement SaaS used by thousands of B2B buyers). The January 2026 acquisition of Inect adds Machine Learning, Computer Vision, and Generative AI specialisations as integrated capabilities rather than a standalone product.
Differentiator
Problem solved
Functional benefit
Products and services
- AI Discovery Track A two-phase enterprise AI engagement for organisations looking to identify and ship AI use cases. Phase 01 is a two-week fixed-price strategy workshop (€8k) that delivers a prioritised roadmap of 3-5 AI use cases with impact, feasibility, and ROI estimates; Phase 02 is an optional eight-week pilot build (€32k T&M, ~€40k full track) that takes the highest-impact use case to a production-grade AI product. Designed for ambitious SMEs, scale-ups, and innovative corporates.
- QIT Online Market-leading SaaS platform for psychotherapists and mental-health professionals in Belgium. Co-founded by Panenco with Nele Stinckens (PhD) and operated as a structural partnership since 2019, used by 1,000+ psychotherapists daily, with GDPR-compliant and ISO 27001-aligned security practices on Google Cloud Platform.
- Seaters All-in-one enterprise SaaS platform that maximises sponsorship assets and streamlines invitation workflows for hospitality and sales teams. Trusted by KPN, BNP Paribas, ING, and Paris 2024, modernised together with Panenco to a cloud-native architecture that halved hosting costs and improved stability.
- Valcori AI-powered procurement SaaS that turns RFx / tender creation from weeks into minutes, embedding generative AI workflows over an API-driven architecture integrated with external ERP and accounting systems. Co-built with Progressio and used by thousands of procurement users.
Companies that use Panenco
Customer profileIdeal customer profiles3 records
Panenco technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability18 records
Feature10 records
Panenco partnerships and signals
Strategic signalRecent moves1 record
Expansion highlights5 records
Panenco competitors and assessment
Company assessmentEmerging players
- TechWolf: Belgian AI startup building an enterprise skills-inference platform — partial overlap as a Belgium-rooted AI company that also has a product and engineering studio dynamic.
Broad incumbents
- Endava: Global digital engineering and AI services firm (publicly listed on NYSE) with comparable custom software and emerging-tech delivery for enterprise — broad incumbent in the same category.
- Xebia: Global digital consultancy with strong AI/ML and cloud-native practices, comparable to Panenco in delivery model but with broader geographic and capability coverage.
- Thoughtworks: Global digital product studio and technology consultancy with a similar software-engineering-plus-AI delivery model, but serving Fortune 500 clients at much larger scale across many geographies.
Direct peers
- Radix.ai: Belgian applied AI boutique (acquired by Deloitte in 2021) building custom machine learning and AI products for European enterprises — analogous niche, geography, and AI-implementation focus.
- ML6: Belgian AI/ML consultancy based in Ghent with a similar enterprise AI services offering across NLP, computer vision, and generative AI for large European corporates. Closest direct peer in geography, size, and positioning.
- Dataroots: Belgian AI and data engineering studio (part of the Cronos group) offering AI strategy, MLOps, and applied AI implementations for enterprise clients across Belgium and the Netherlands.
- Faktion: Belgian AI engineering studio specializing in custom AI solutions, MLOps, and generative AI for enterprise — directly comparable in services portfolio, Belgian footprint, and target buyer.
- Ixor: Belgian software studio and cloud-native development partner offering bespoke digital product development — direct peer in the 'Belgian software studio for B2B SaaS' category.
Others
- Optiver (internal AI/eng teams): Adjacent — large European trading firm that builds substantial in-house AI and software engineering capability and is also a potential buyer of bespoke AI services from a Belgian studio like Panenco.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Panenco social profiles
Digital presencePanenco compliance and trust
Trust signalCompliance8 records
Panenco financial estimates
Financial estimateRevenue estimate
Valuation estimate
Panenco leadership team
Management profileNumber of profiles
Profiles9 records
Panenco subsidiaries and ownership
Company hierarchySubsidiaries1 record
Panenco funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Panenco M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Panenco
What does Panenco do?
Panenco is a Belgian software studio that defines, builds, and deploys enterprise AI solutions and B2B SaaS products for ambitious SMEs, scale-ups, and innovative corporates. Its flagship structured engagement is the AI Discovery Track, a two-phase program combining a two-week fixed-price strategy workshop (€8k) with an optional eight-week time-and-materials pilot build (~€32k T&M / ~€40k full track) that takes AI use cases from roadmap to live product. Beyond discovery engagements, the studio delivers cloud architecture, full-stack software engineering, AI implementation (RAG, computer vision, generative AI, agentic workflows), and technical audits, and it co-founds and structurally partners with select SaaS products such as QIT Online, Seaters, and Valcori.
Is Panenco a public or private company?
Panenco is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Panenco founded?
Panenco was founded in 2014. It employs 11 to 50 people.
Where is Panenco based?
Panenco is headquartered in Leuven, Belgium, in the Europe region.
How does Panenco make money?
Four revenue lines are on record. AI Discovery Track (fixed-price strategy engagement) is the primary driver. The others are pilot Build (Time & Materials), long-term structural partnerships with SaaS product companies and consolidated project / studio services revenue.
Who are Panenco's main competitors?
TechWolf is listed as an emerging player. Broad incumbents are Endava, Xebia and Thoughtworks. Direct peers are Radix.ai, ML6, Dataroots, Faktion and Ixor. Optiver (internal AI/eng teams) is listed as an others.
Does Panenco have an API?
No public API is recorded for Panenco.
What industry is Panenco in?
Panenco's product category is Enterprise AI & B2B SaaS Software Development Services. Its primary akta.pro industry code is HDAEANAJ, AI Application Enablement Platforms (Copilot/Agent Frameworks, SDKs), with a secondary code of BPAHAEAJ, Integration, API & Middleware Consulting. Its NAICS code is 541511 and its SIC code is 7371.