wamo Raises $1.5M in Seed Extension


wamo, a London, UK- and Malta-based dgital SME business account provider, raised $1.5M in Seed extension.

The round, which brought the total amount to $6.8M, was led by Finberg and RePie Asset Management, among others.

The company intends to use the funds to develop a suite of credit products and features for SMEs, to expand into new markets, and to apply for its own electronic money institution (EMI) license in Finland. 

Led by CEO Yanki Onen, wamo provides a digital business account and and a network of partners to SMEs. It also gives access to its marketplace, wamo Connect, to access services – including accountancy platforms, domain hosts and marketing agencies – as well as the option for customers to provide their own services to customers. wamo has processed close to €1.3 billion in transactions to date, opening business accounts for 7,500 new customers in Europe and the UK.

The company operates in London and Malta.