Penny Software, the AI-driven digital procurement and spend-management platform, has officially opened a new UK office in Derby, marking a significant milestone in its global expansion.
Founded in 2020 and headquartered in Riyadh, Saudi Arabia, the company provides a B2B digital procurement solution that currently serves enterprises across more than 75 countries. The new Derby location will act as a regional hub to support growing demand from UK and European clients, accelerating local partnerships and enhancing service delivery.
Choosing Derby over London
While many international fintech and software companies default to London for their UK base, Penny Software took a different approach.
According to the company: “We considered many UK cities for our new office and for most global companies London is the default option. However, we felt Derby was a much better choice given its central location, thriving technology ecosystems and highly skilled talent, which make it an excellent and highly strategic base for us”.
From this new hub, the focus will be heavily on customer success and strategic partnerships. Penny Software already boasts collaborations with major players such as KPMG, McKinsey, and Voltalia, which it plans to build upon to fuel further international growth.
Modernising the supply chain
The expansion comes at a time when businesses are seeking AI-powered procurement tools to handle increasing economic, regulatory, and efficiency pressures. Penny’s cloud-native platform is designed to digitise and optimise the entire procurement lifecycle—from purchase requisitions and sourcing (including RFQs and RFPs) to invoicing, payments, and advanced spend analytics.
Key features of the platform include:
- AI-powered intelligence: Tools for optimised sourcing, automated savings detection, and effective tail spend management.
- Modular design: Highly customizable to adapt rapidly to unique enterprise requirements with minimal implementation time.
- Real-time controls: Delivers spend visibility and budget controls spanning across departments, projects, and locations.
- End-to-end automation: Eliminates the reliance on fragmented email processes and spreadsheets, enabling faster cycles and fewer errors.
By integrating as a module alongside all major ERP and finance systems, the technology aims to replace clunky, expensive incumbent procurement systems entirely.
Henry Joseph-Grant, head of global expansion at Penny, commented on the strategic importance of the launch: “Opening our UK office is a natural and exciting progression as we continue to expand our footprint and scale Penny’s innovative procurement solutions to more mid-market and enterprise level organisations worldwide”.
He added: “The UK market represents a key opportunity with its mature procurement landscape, strong emphasis on digital transformation, and forward-thinking enterprises looking to drive cost savings and compliance. This new presence will allow us to provide closer support, foster local collaborations, and help UK businesses unlock greater value from their procurement operations”.