FINOM: Revolutionizing SME Banking in Europe
February 20, 2024, 10:57 am
Location: Netherlands, North Holland, Amsterdam
Employees: 11-50
Founded date: 2019
Total raised: $73.21M
FINOM, the Amsterdam-based digital banking solution for SMEs and entrepreneurs, has secured a whopping €50M in a Series B funding round. This investment, led by General Catalyst and Northzone, marks a significant milestone for the fintech company.
Founded in 2020 by a team of fintech veterans, FINOM offers a full-stack financial operating system for entrepreneurs and SMEs. Their innovative banking tools streamline online banking, payment processing, invoicing, and expense management, making financial operations easier for businesses.
With a total raised capital of over €100M, FINOM is on a mission to transform the SME banking experience in Europe. They currently serve more than 85,000 customers across Germany, France, Spain, the Netherlands, and Italy, with plans to expand coverage to the entire Eurozone by 2025.
The key to FINOM's success lies in its proprietary core banking system, which powers a suite of products and services tailored to the unique needs of SMEs. By holding an Electronic Money Institution (EMI) license operational across Europe, FINOM is well-positioned to lead the charge in the SME banking sector.
General Catalyst, a renowned venture capital firm, has shown unwavering support for FINOM since its inception. Recognizing the team's vision to empower small businesses in Europe, General Catalyst's Managing Director, Adam Valkin, expressed excitement for the continued partnership with FINOM.
Northzone, another key investor in FINOM's Series B round, sees the company's platform potential as a game-changer in the European financial software space. With a track record of successful investments in companies like Spotify and Klarna, Northzone is confident in FINOM's ability to emerge as a market leader.
As the demand for SME financial services continues to grow, FINOM's integrated product offering sets them apart from traditional banks and other challenger banks in the market. By consolidating banking, payments, invoicing, expense management, and accounting services into a single platform, FINOM saves clients time and reduces costs significantly.
With an additional €50M in funding, FINOM is poised for rapid expansion across Europe. Their commitment to simplifying the SME banking experience and providing user-friendly solutions underscores their dedication to helping small businesses thrive in a competitive market.
In a landscape where traditional banks overlook SMEs, FINOM stands out as a beacon of innovation and efficiency. With a clear vision and strong investor backing, FINOM is set to revolutionize SME banking in Europe and beyond.
Founded in 2020 by a team of fintech veterans, FINOM offers a full-stack financial operating system for entrepreneurs and SMEs. Their innovative banking tools streamline online banking, payment processing, invoicing, and expense management, making financial operations easier for businesses.
With a total raised capital of over €100M, FINOM is on a mission to transform the SME banking experience in Europe. They currently serve more than 85,000 customers across Germany, France, Spain, the Netherlands, and Italy, with plans to expand coverage to the entire Eurozone by 2025.
The key to FINOM's success lies in its proprietary core banking system, which powers a suite of products and services tailored to the unique needs of SMEs. By holding an Electronic Money Institution (EMI) license operational across Europe, FINOM is well-positioned to lead the charge in the SME banking sector.
General Catalyst, a renowned venture capital firm, has shown unwavering support for FINOM since its inception. Recognizing the team's vision to empower small businesses in Europe, General Catalyst's Managing Director, Adam Valkin, expressed excitement for the continued partnership with FINOM.
Northzone, another key investor in FINOM's Series B round, sees the company's platform potential as a game-changer in the European financial software space. With a track record of successful investments in companies like Spotify and Klarna, Northzone is confident in FINOM's ability to emerge as a market leader.
As the demand for SME financial services continues to grow, FINOM's integrated product offering sets them apart from traditional banks and other challenger banks in the market. By consolidating banking, payments, invoicing, expense management, and accounting services into a single platform, FINOM saves clients time and reduces costs significantly.
With an additional €50M in funding, FINOM is poised for rapid expansion across Europe. Their commitment to simplifying the SME banking experience and providing user-friendly solutions underscores their dedication to helping small businesses thrive in a competitive market.
In a landscape where traditional banks overlook SMEs, FINOM stands out as a beacon of innovation and efficiency. With a clear vision and strong investor backing, FINOM is set to revolutionize SME banking in Europe and beyond.