Finom, a rising force in Europe’s digital banking sector, has just closed a €92.7 million (~$105 million) growth funding round led by General Catalyst’s Customer Value Fund. Designed specifically for small- and medium-sized businesses (SMBs), the Amsterdam-based fintech says this capital injection will be used solely for growth, accelerating customer acquisition and market expansion. Notably, the round involves no equity dilution, emphasizing Finom’s strong fundamentals and profitability.
What sets Finom apart in an increasingly crowded fintech landscape is its strategic focus on AI and automation. Earlier this year, the company rolled out an autonomous AI accounting agent tailored for entrepreneurs and freelancers—an offering that combines bookkeeping with real-time insights, freeing business owners from administrative burdens. This was followed by a move into direct lending, supported by an AI-powered credit scoring engine that optimizes risk evaluation in real time.
With more than 100,000 customers across Germany, France, Spain, the Netherlands, and Italy, Finom has proven its product-market fit. Its subscription-based model is bolstered by transaction fees and cashback incentives, while its new lending arm adds interest-based revenue. According to co-founder Kos Stiskin, Finom doubled its annual recurring revenue in 2024 and now operates with EBITDAM profitability, highlighting operational efficiency rare among fintech startups.
As of today, Finom employs over 500 people and shows no signs of slowing down. Industry experts point to its proprietary AML and KYC engines as key differentiators in the compliance-heavy European market. Finom’s modular, localized approach to digital banking is also being credited for its success, especially when compared to competitors like Qonto.
With nearly €190 million raised since its 2020 launch, Finom is emerging not just as a challenger bank—but as a challenger brand reshaping the future of business banking in Europe.
