Finom

Overview

Finom is a fintech company founded in 2019, providing online business accounts, invoicing, and accounting integrations tailored for small and medium-sized enterprises (SMEs) and freelancers. The company was established by Yakov Novikov, Ivo Dimitrov, and two other entrepreneurs with extensive backgrounds in IT and banking development. Based in Amsterdam, Netherlands, Finom has raised approximately $346 million over multiple funding rounds, with notable investors including General Catalyst and Northzone.

Recent Developments

In the past few years, Finom has seen significant advancement in its operations and market offerings:

  • June 2025: Finom secured a remarkable $115 million in Series C funding from investors such as Headline, Cogito Capital, General Catalyst, and Northzone, bolstering its financial platform for SMEs.
  • May 2025: The company announced the acquisition of Kapaga, enhancing its range of services for freelancers and SMEs across Europe.
  • March 2025: It launched its first credit line in the Netherlands as part of its entry into SME lending, marking an extension of its suite of financial services.
  • 2024: Finom introduced an e-invoicing solution for German SMEs, aligning with forthcoming regulatory mandates.
  • February 2024: The company received €50 million in Series B funding to further develop its platform, expand its market presence, and enhance product offerings.

Company Information

AttributeInformation
Founding Date2019
HeadquartersAmsterdam, Netherlands
FoundersYakov Novikov, Ivo Dimitrov
RevenueNot publicly disclosed
ProfitsNot publicly disclosed
Key InvestorsGeneral Catalyst, Northzone
IndustryFintech
Number of EmployeesApproximately 505 (as of 2025)

Early History

Finom was conceptualized to address the growing needs of freelancers and SMEs for efficient financial management tools in the wake of the gig economy's expansion. The founders identified a gap in the market for accessible banking and financial services that cater specifically to self-employed individuals and small enterprises. During its inception, Finom prioritized partnerships with prominent fintech companies such as Solaris Bank and Treezor to extend their services across Europe, eventually establishing their niche as a robust digital banking solution. Their initial funding rounds laid the groundwork for rapid growth and technological deployment.

Company Profile and Achievements

Finom has successfully carved out a notable niche in the fintech industry:

  • Product Suite: Offers digital business accounts equipped with invoicing, expense management, financial management, and integrated banking solutions that have simplified financial operations for SMEs and freelancers.
  • Technological Integration: Developed a seamless platform that incorporates e-invoicing, AI-driven accounting capabilities, and efficient payment processing tailored for SMEs.
  • Market Expansion: Operates across significant European markets including Germany, France, Italy, and Spain, leveraging partnerships with local fintech entities to deliver localized services.
  • Customer Base Growth: As of 2025, it serves over 250,000 clients, predominantly entrepreneurs and self-employed individuals.

Current Operations and Market Position

Finom continues to strengthen its foothold as a leading fintech service provider by maintaining a comprehensive suite of tools that support SMEs' financial needs. It offers competitive advantages in terms of user-centered design, seamless integration with existing banking structures, and a robust infrastructure that ensures security and efficiency. Despite a competitive market with key players like Stripe and Flutterwave, Finom sustains its edge by focusing on localized service and customer-centric innovations.

Conclusion

Finom represents a significant force in transforming European SME banking through its innovative approach and comprehensive suite of services. As the company continues to evolve, its commitment to enhancing financial accessibility and efficiency underpins its strategic growth, promising a potentially transformative impact on the fintech landscape.

References

  1. Tracxn
  2. PitchBook
  3. Crunchbase
  4. TechCrunch
  5. EU Startups
  6. Owler
  7. Finom Official Website
  8. StartupHub.ai
  9. Silicon Canals
  10. LeadIQ