Amsterdam-based FINOM, a digital banking solution for SMEs and entrepreneurs, has secured €115M in a Series C funding round led by AVP (previously AXA Venture Partners).
AVP is an independent global investment platform dedicated to high-growth, tech (from deep-tech to tech-enabled) companies across Europe and North America, managing more than €2.5B of assets across four investment strategies: venture, early growth, growth, and fund of funds.
“We’ve been thoroughly impressed by Finom’s seasoned leadership and their effective execution of a multi-product, multi-geography strategy, underpinned by a highly robust and well-architected infrastructure,” comments Warda Shaheen, General Partner and Co-head of Global Growth Equity at AVP. “This funding round will enable them to accelerate growth further strengthening their position as the go-to financial partner for European SMEs.” Warda Shaheen will join Finom’s board of directors as part of the funding round.
New investor Headline Growth, along with the existing investors General Catalyst, Northzone, and Cogito Capital, also participated in the round.
The announcement comes over a month after raising €92.7M in a growth investment round from General Catalyst’s Customer Value Fund.
The Dutch company has now raised over €300M in total funding to accelerate its European expansion.
“This funding represents a validation of our vision to create a truly empowering European business environment where entrepreneurs can thrive regardless of their size,” says Kos Stiskin, chairman and co-founder of Finom. “This Series C enables us to continue to expand our reach across Europe and strengthen our position as the financial infrastructure provider for European SMEs.”
One million European business customers by 2026
The funding comes as Finom accelerates growth across Europe, now serving over 125,000 customers with local IBAN accounts in Germany, France, Italy, Spain, and the Netherlands.
The company has set an ambitious target to reach one million European business customers by the end of 2026.
Since its €50M Series B round in February 2024, the company has doubled revenue in 2024 and maintains positive unit economics across all markets.
“European entrepreneurs are some of the most driven, creative, and resilient people you’ll ever meet — but their financial tools haven’t kept up with their ambition. At Finom, we’re building a financial home that works at the speed of their ideas and supports them every step of the way,” says Andrey Petrov, CEO and co-founder of Finom. “This funding helps us go faster, not just in technology, but in earning the trust of a million entrepreneurs across Europe.”
FINOM: Digital banking solution for SMEs and Entrepreneurs
In 2020, fintech veterans Andrey Petrov, Kos Stiskin, Oleg Laguta, and Yakov Novikov co-founded FINOM.
The company’s banking tools enable businesses to quickly open accounts, streamlining online banking, payment processing, invoicing, and expense management.
The company does it by developing its proprietary core banking system that powers its broad suite of products and services, including rapid account setup, online banking, payment processing, invoicing, FX, and expense management.
The company operates an Electronic Money Institution (EMI) licence across Europe.
The Dutch company’s mission is to build a full-stack financial operating system for entrepreneurs and SMEs.
