Penny AI

Penny AI is an enterprise Procurement AI system that streamlines RFXs, POs, approvals, supplier management, and payments within a unified source-to-pay system.

Source-to-Pay suite AP automation / invoice-to-pay Supplier information & onboarding eSourcing / RFx eProcurement

Headquarters: Riyadh, Saudi Arabiafundraisingfox.com
Founded: 2020penny.co
Ownership: Private (founder or VC backed)penny.co
Serves: Enterprisepenny.co
Pricing: Flat subscription · from $50Kpenny.co

How Penny AI describes itself

“Procurement AI System for Enterprises”

Penny AI helps organizations achieve significant cost savings, strengthen governance, and optimize procurement operations with full visibility and control. It delivers a streamlined, efficient procurement process, empowering enterprises to capture and maximize value seamlessly.

Key terms on its site: procurement ai, ai-driven, autonomous sourcing, highly customizable, modular approach, quick implementation

From its website, checked Nov 2026penny.co

Funding

Seed$1.4MJun 2025penny.co

Integrations listed on its site

Microsoft · Odoo · Oracle · SAP

Profile built from Penny AI's own website and the public sources linked above. Last checked Nov 1, 2026. Not sponsored: vendors can't pay to be listed or ranked.

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