If you’re a small business owner in Europe, chances are the answer is: never. That’s exactly what Amsterdam-based fintech Finom is aiming to change—and judging by its recent €115 million Series C round, investors believe the startup just might pull it off.
Five years in, Finom isn’t just another scrappy challenger. It’s quickly becoming a serious contender in Europe’s crowded fintech landscape. The company offers a streamlined financial platform that bundles banking, invoicing, and AI-powered accounting into one sleek, user-friendly tool. It’s built with entrepreneurs in mind—specifically, the millions of underbanked SMBs across the continent.
And business is booming. Finom says it doubled its revenue in 2024 and is now eyeing one million business customers by 2026. Ambitious? Definitely. But no longer out of reach. With backing from AVP (formerly AXA Venture Partners), Headline, and repeat support from General Catalyst, Cogito Capital, and Northzone, Finom’s vision now has serious fuel behind it.
What makes this round particularly compelling isn’t just the number—it’s the structure. General Catalyst’s Customer Value Fund contributed €105 million weeks before the round officially closed. The catch? No equity taken. The capital is tied entirely to Finom’s growth. If the company scales, they win. That level of confidence is rare.
This approach is part of a bigger shift in fintech—putting real power back in the hands of business builders. While legacy banks continue to bury SMBs under red tape, Finom is rewriting the rules. No branches. No bloated fees. No paperwork for paperwork’s sake. Just fast, flexible, tech-forward banking tools—and soon, maybe some smart acquisitions too.
The company has already dipped into lending, starting small in the Netherlands. For Finom, credit is more than a feature—it’s a trust signal. CEO Andrew Petrov sees it as a core part of their future, especially in markets where traditional institutions have long ignored smaller businesses.
Even behind the scenes, Finom is pushing boundaries. The company’s 500-person team isn’t growing massively with this raise. Instead, Finom is integrating AI agents to automate routine tasks, from back-office functions to core product support.
Of course, competition is fierce. Giants like Monzo, N26, and Revolut hold more capital and enjoy stronger name recognition. But Finom’s bet isn’t on branding. It’s on focus.
Their niche is clear: European entrepreneurs who need a bank that works like they do—lean, digital, and relentlessly efficient.
And so far, it’s working. The end of Finom’s partnership with Solaris Bank earlier this year didn’t slow it down. Instead, the team doubled down on core markets—France, Germany, Italy, and Spain—where challenger banks have yet to dominate and legacy banks are still falling short.
Leadership is evolving too. Petrov now stands as sole CEO, bringing sharper, faster decision-making to the table. Co-founders Yakov Novikov and Oleg Laguta have stepped into advisory roles. Their success with Modulbank in Russia proves the team understands digital banking inside and out—but now their focus is fully European.
Sure, it might sound like another funding story. But that misses the point.
Finom isn’t building another neobank. It’s building infrastructure for the real economy. For freelancers. For shop owners. For the growing-but-still-small. For those who, until now, didn’t have a seat at the financial table.
Now they do. And Finom is making damn sure they’re heard.
