Dutch FinTech Finom raises €50m to boost SME banking services

By Delisha Fernandes

Finom, a challenger bank based in Europe and specifically tailored for SMEs and freelancers, has secured €50 million in Series B funding.

The Series B round was co-led by new investor Northzone and existing investor General Catalyst. Other participants in the round include Target Global, Cogito Capital, Entrée Capital, FJLabs, and s16vc.

Since FINOM’s launch in 2020, They have assisted over 85,000 European businesses with banking and operations, facilitating the transfer of over €14 billion.

As the world transitioned to remote work and SMEs emerged as a beacon of hope amidst economic challenges, our mission to empower European entrepreneurs became even more pressing. This new funding will drive FINOM’s continued growth to reach and empower millions of European SMEs. The company aims to enhance the FINOM web and mobile experiences to be faster and more powerful.

Kos Stiskin, Co-Founder Finom, said,  “After covering the basic needs for SMEs to manage their back office through integrations and team management, there is so much more we can do – from acquiring to lending; the sky’s the limit for our incredible team. This funding will also enable us to achieve some of our biggest and most ambitious goals, such as expanding FINOM to serve the larger SME segment and ultimately becoming the leading business banking provider in the EU.”