SME banking tech start-up Finom lands €50m Series B to power product expansion

Posted under: MSME
Date: 2024-02-16
SME banking tech start-up Finom lands €50m Series B to power product expansion

Dutch banking services provider Finom has secured €50 million in Series B funding, with plans to expand its product line-up. The round was led by US-based venture capital firm General Catalyst and Northzone, joining Cogito Capital, Entrée Capital, FJLabs, s16vc, and Target Global. Finom, founded in 2020, operates a digital financial services platform for entrepreneurs and SMEs in Germany, France, Spain, the Netherlands, and Italy. The company currently has 85,000 customers and plans to enhance existing product offerings, further marketing initiatives, and expand accounting services. Finom has previously sought to strengthen its cross-border payment capabilities through its 2022 acquisition of paytech Kapaga. Co-founder Kos Stiskin aims to transform the SME banking experience into a straightforward and user-friendly experience by adapting its platform infrastructure and paying close attention to the unique characteristics of each country it serves.

Read more at: www.fintechfutures.com