Finom Raises €50M in Series B Funding

Finom, an Amsterdam, The Netherlands-based startup that provides financial solutions for entrepreneurs and freelancers combining business account benefits with multiple services, raised €50m in Series B funding.

The round was co-led by Northzone and current investor General Catalyst, with participation from Target Global, Cogito Capital, Entrée Capital, FJLabs, and S16vc.

The company intends to use the funds to continue to expand operations and its business reach, consolidating its position in its core market — Germany — while fuelling its rapid expansion across France, the Netherlands, Spain, and the rest of Europe.

Co-founded in 2020 by Andrey Petrov, Kos Stiskin, Oleg Laguta, and Yakov Novikov, Finom provides a product that combines accounting, financial management, and banking functions into a single mobile-first platform.

In under four years, the company has garnered a customer base of 85,000 SMEs and individual entrepreneurs who use the platform for a range of banking services, including invoice and payables processing, foreign exchange transactions, expense management, and various other activities.

Finom also has regional hubs in Cyprus, Poland, Spain, and Germany.