Pennylane, a French startup that sells accounting software, is in talks for a potential investment at a $4.25 billion valuation, nearly double what it was valued at in a round just seven months ago, according to people familiar with the matter.

Incode Technologies Inc., an identity verification platform, is in preliminary talks to raise between $150 million and $300 million from investors at a valuation of as much as $3 billion, according to people familiar with the matter.