In today’s episode of the “Start-up of the Week,” International Finance will talk about Amsterdam-based Finom, a digital bank for small- and medium-sized businesses (SMBs), that just recently raised 92.7 million euro (roughly USD 105 million) in a growth investment from General Catalyst’s Customer Value Fund.
Kos Stiskin, Finom’s chairman and co-founder, told TechCrunch that the capital infusion “will be used exclusively and only for growth and not for operational expenses or product development.” The latest round was a nontraditional funding one in which General Catalyst will not take any equity. Finom’s core operations, as of May 2025, are generating positive cash flow, with all new investments and funding going directly toward attracting new clients.
In 2025, Finom, primarily a banking business, expanded its offerings beyond digital banking services while making considerable efforts in innovation.
In February, Finom unveiled its “autonomous AI accounting agent” for Europe-based entrepreneurs and freelancers. The start-up has now expanded into direct lending, which incorporates an AI-powered scoring engine. Finom’s credit offering, available in the Netherlands, will be expanded across Europe by the end of 2025.
Expanding Rapidly
Right now, Finom counts over 100,000 businesses across Germany, France, Spain, the Netherlands, and Italy as customers, reporting positive unit economics in all markets. The start-up’s revenue model, which is primarily a subscription-based one, also generates revenue through transaction fees for certain services, apart from offering a competitive cashback programme. As the company expands into the territory of lending, the move has also opened a new revenue stream through interest on credit lines.
As per Stiskin, Finom doubled its annual recurring revenue in 2024 and became EBITDAM (earnings before interest, taxes, depreciation, amortisation, and marketing) profitable. The chairman and co-founder right now sees Qonto, a Paris-based challenger bank, as his business’s closest rival. Qonto, in 2022, announced a massive 486-million-euro (USD 552 million) Series D funding round. However, Stiskin believes that Finom has a “stronger localisation strategy and more comprehensive product suite.”
Presently, Finom has 505 employees, up 31.5% compared to 2024. Last September, the company named Alessandro Camilotti, former head of finance and analytics EU at Klarna, as its CFO. The venture has so far raised nearly 190 million euro (roughly USD 214 million) since its inception in 2020.
Through Finom, global businesses can conduct corporate payments with no limits, while enjoying unlimited cashback on all card transactions, even the biggest ones, apart from spending and receiving money in 150-plus countries. Companies can open their account fully online in five days to send and get money from anyone, anywhere, while enjoying benefits like lowest exchange rates, fixed and low transaction fees, up to 1% of unlimited cashback, and free in/out SEPA transfers (Single Euro Payments Area, which represents a pan-European network of countries where two cross-border bank accounts can send and receive payments in euros) and direct debits.
Here Are The Key Products
Using Finom’s “Unlimited Cashback” feature, medium and large companies can boost their businesses by maximizing their savings with a tailor-made cashback system, with benefits like up to 1% cashback on all card expenses, up to 200,000 euro in monthly transaction limit for each card, and, finally, unlimited free virtual cards.
Next is “International Transfers,” under which businesses can save, exchange, spend, and receive money like a local everywhere. Under this, 20-plus currencies exchange at great rates under transparent fees. Up to 75% of money gets transferred in 150-plus countries within the same day, saving entrepreneurs’ time and maximising efficiency.
Companies can open accounts within days, not months. The entire process becomes three times faster with a personal manager, allowing clients to instantly exchange over 20 currencies from their phones or desktops.
Also, Finom’s currency exchange feature is known for being three times cheaper than at traditional banks. The exchange rate, claimed as “exceptional” by the start-up, comes at the ratio of +0.5% at the interbank level. The businesses can store money with no commission in any of the 24 currencies available, while sending and receiving funds with a fixed fee of 5 euro.
Entrepreneurs, whether in corporate or enterprise settings, can manage account access and control team expenses through a unified interface using Finom. They can easily issue, top up, or set limits on cards for employees with just a few clicks. Additionally, they can provide either limited or unlimited access to external accountants and generate bulk exports of documents and transaction data.
The “Personal Account Manager” (a human professional) acts as the dedicated helping hand in sorting out international payment subtleties, while carefully checking the money transfer documents before the transaction takes place.
Image Credits: Finom