Finom

Headquartered in the Netherlands, Finom offers digital banking services to SMEs and freelancers. The company has obtained an Electronic Money Institution (EMI) license in the Netherlands, allowing it to operate across the European Union. As of February 2024, it had a presence in the Netherlands, Germany, Spain, France, Italy, and Poland.

Finom provides a business account with an International Bank Account Number (IBAN), as well as physical and virtual bank cards, to facilitate cross-border transactions and foreign currency exchanges. Additionally, it offers expense management tools and integration support for accounting software through its platform, as well as the ability to manage account access and control team expenses. The company charges a flat subscription fee of EUR 140 (~USD 161) per month.

Key customers and financials

Finom served more than 85,000 customers as of February 2024.

The company collaborated with Klarna to enable its customers to easily receive payments through electronic invoicing. It also partnered with Visa and Solarisbank to launch business accounts in Italy with integrated invoicing capabilities.

Funding and financials

The company raised EUR 50 million (~USD 53.5 million) in a Series B funding round in February 2024, co-led by Northzone and General Catalyst. It planned to use the new funds to expand its services and reach across Europe.