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Finom Secures €50 Million to Empower European SMEs with Innovative Banking Solutions

In the fast-paced fintech industry, Finom stands out as a beacon of innovation and growth. Founded in 2019, this Dutch-based startup has carved a niche by offering comprehensive financial services tailored for small and medium-sized enterprises (SMEs) and freelancers across Europe. With its recent Series B funding, Finom has not only solidified its place in the fintech landscape but also set a clear trajectory for future expansion and service enhancement.

Finom Secures €50 Million
Image Credits: Finom

Finom’s Foundational Success

  • Early Achievements
    • Founded: 2019, in Amsterdam, The Netherlands.
    • Focus: Digital banking solutions for SMEs and freelancers.
    • Customer Base: Over 85,000 businesses in Germany, Spain, France, Italy, and the Netherlands.
  • Funding Milestones
    • Series B Funding: Raised €50 million, co-led by Northzone and General Catalyst, with participation from Target Global and others.
    • Total Capital: Exceeds €100 million, showcasing robust investor confidence.
  • Regulatory Milestones
    • EMI License: Acquired in November 2022, enabling broader service offerings across the EU.

Service Expansion and Innovation

  • Comprehensive Financial Products
    • Offerings: Online business accounts, IBANs, bank cards, expense management tools, and accounting software integration.
    • Unique Value: A unified platform for banking, payments, invoicing, and more, tailored for SMEs’ unique needs.
  • Expansion Goals
    • Geographic Reach: Aims to cover the entire Eurozone by 2025.
    • Customer Growth: Plans to increase its customer base significantly, with a focus on underserved SME sectors.
Finom founders
Finom founders, from L to R: Andrey Petrov, Yakov Novikov, Oleg Laguta, Kos Stiskin Image Credits: Finom

Competitive Landscape and Strategic Positioning

  • Market Differentiation
    • Finom stands apart with its focus on SMEs and freelancers, a sector often overlooked by traditional banks.
    • Its comprehensive suite of services and user-friendly platform offer a one-stop solution for business financial management.
  • Future Prospects
    • With a strong foundation and clear expansion plans, Finom is poised to become a leader in the EU SME banking sector.
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Challenges and Opportunities

  • Global Fintech Trends
    • While fintech investments have seen a downturn globally, Finom’s successful funding round indicates a strong market demand for specialized financial services for SMEs.
  • Regional Variations
    • Despite a challenging investment climate, areas like the United Arab Emirates have seen substantial growth in fintech funding, highlighting opportunities for targeted regional expansion.


Finom’s journey from a startup to a significant player in the European fintech space is a testament to its innovative approach, strong leadership, and commitment to serving SMEs. As it continues to expand its services and geographic footprint, Finom is not just redefining SME banking but also setting new standards for the fintech industry at large.

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