FinomAn Amsterdam-based digital bank for small and medium-sized businesses has collected € 92.7 million (about $ 105 million) in development investment from the customer price fund of General Catalist, specifically describes Techcrunch.
Capital infusion “will be used especially and only for development” and not for operating expenses or product development, Kos Sticcin, the chairman and co-founder of Finom told Techcrunch. He described it as a non-traditional funding round in which the general catalyst does not take any equity.
“(O) ur core operations are generating positive cash flows, and all new investment and funds go directly to attract new customers,” Stickin said.
Finome is mainly in banking business, but this year, the company expanded its offerings beyond digital banking services. In February, Finome unveiled what Stissicine described as “autonomous AI Accounts Agents” for entrepreneurs and freelancers in Europe. And in March, the startup expanded to direct lending, including the AI-managed scoring engine.
Stickin said that the credit offer of Finomes available in the Netherlands would be expanded throughout Europe.
Today, Finome counts more than 100,000 businesses as customers in Germany, France, Spain, Netherlands and Italy, reporting positive unit economics in all markets. Its revenue model is mainly subscribed. Finome also generates revenue through transactions for some services and provides a competitive cashback program. Recent expansion in borrowings also opened a new revenue stream through interest on credit lines.
Sticin refused to reveal the difficult revenue figures, but he told Techchchan that Finome doubled its annual recurring revenue in 2024 and the company is “” “”Abitdam (Earnings before interest, taxes, depreciation, refinement and marketing) beneficial. ,
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In an interview, Sticin described the closest contestant of Finnom as the Paris-based Challenger Bank, which announced a large-scale € 486 million ($ 548 million) Series D Funding Round in January 2022. But Sticin believes that the phenome has a “strong localization strategy and more comprehensive product suit”.
Currently, Finome has 505 employees, which is 31.5% compared to the previous year. Last September, the company named Alesandro Camelotti, Finance of Finance and Analytics EU its CFO in Clarna.
Overall, Finom has raised around € 190 million (about $ 214 million) since its inception in 2020. In February 2024, Finome announced that it had raised € 50 million (about $ 56 million) in a series B equity round of general catalysts and co-faced funding by Northern.
The startup has refused to reveal its evaluation. PitchbookIn November 2021, the Phenome was priced at $ 150.7 million post-money in November 2021 after the VCS Target Global, Tail Ventures and General Cattlelist from € 30 million (about $ 33.8 million) seed funding round.
Zieynep Yavuz, partner of General Catalist, believes that Finom has “a market shown a strong execution that is still deep.” She also thinks that its modular infrastructure gives the company the ability to “scale” in geographical areas, “where needed, taking advantage of shared abilities while localization.”
“We see the prophet of the pheinom-owned anti-laundering and the acquaintance-of-your-class engine as a standout advantage-only for compliance, but for customer experience,” Yavuj said.
