Finom Secures €115 Million Series C Funding for European Expansion

Amsterdam-based Finom, a pioneering digital financial services platform catering to entrepreneurs and SMEs, has announced the successful closure of a €115 million Series C funding round aimed at accelerating its expansion across Europe.

Leadership and Investor Support

This financing round was led by AVP, formerly known as Axa Venture Partners, and attracted participation from New Investor Headline Growth, along with existing backers such as General Catalyst, Northzone, and Cogito Capital. With a fresh investment of €92.7 million from the General Catalyst Customer Value Fund, Finom’s total funding has now surpassed €300 million.

Empowering European Entrepreneurs

Andrey Petrov, CEO and co-founder of Finom, expressed, “European entrepreneurs are some of the most driven, innovative, and resilient individuals you will encounter, yet their financial tools often lag behind their ambitions. At Finom, we strive to create a financial ecosystem that matches the pace of their ideas and supports them at every stage of their journey.” He emphasized that this funding will enable Finom to enhance its technology and build trust among a million entrepreneurs throughout Europe.

About Finom’s Offerings

Since its inception in 2019, Finom has been dedicated to meeting the needs of entrepreneurs and small to medium enterprises (SMEs). The platform provides a comprehensive suite of financial tools, allowing business owners to swiftly open accounts and efficiently manage their finances, including online financial management, invoice processing, and expense tracking.

Rapid Growth and Future Goals

Currently serving over 125,000 customers with local IBAN accounts in countries like Germany, France, Italy, Spain, and the Netherlands, Finom aims to reach one million European business customers by the end of 2026. The company reported a doubling of revenues in 2024 since its previous funding round of €50 million in February 2024, and it continues to maintain a positive unit economy across all markets.

Strengthening Financial Infrastructure

Kos Stiskin, President and co-founder of Finom, remarked, “This funding validates our mission to foster a vibrant European business environment where entrepreneurs thrive, regardless of their size. The Series C investment will enhance our outreach across Europe and solidify our standing as a key provider of financial infrastructure for European SMEs.”

Innovative Financial Solutions

The Finom platform seamlessly combines financial intelligence tools with commercial banking services including payment processing, invoicing, expense management, and currency exchange under a single regulated financial institution license. Additionally, the company has recently ventured into the loan market, offering credit lines for Dutch firms.

A Vote of Confidence from Investors

Warda Shaheen, General and co-responsible partner of Global Growth Equity at AVP, noted, “We were highly impressed by Finom’s seasoned leadership and their effective multi-product, multi-geography strategy backed by robust infrastructure.” She added that this financing round will further empower Finom to solidify its position as a crucial financial partner for European SMEs. As part of this initiative, Warda Shaheen will also join Finom’s Board of Directors.