Fintech startup Finom, based in Amsterdam, has raised €92.7 million (approximately $105 million) in growth funding from General Catalyst’s Customer Value Fund.
Uniquely, the capital comes with no equity dilution, and will be used solely for scaling customer acquisition, not product development or operations.
Co-founder and chairman Kos Stiskin confirmed that the company is already generating positive cash flow, enabling them to allocate new funds directly toward accelerating user growth across Europe.
Finom goes beyond digital banking with AI-powered accounting and lending
Launched in 2020, Finom serves over 100,000 small and medium-sized businesses across Germany, France, Spain, the Netherlands, and Italy. While initially focused on digital banking, the startup has rapidly expanded its offering:
- In February 2025, it launched an AI accounting assistant for entrepreneurs and freelancers.
- In March, it rolled out a direct lending product, backed by an AI-based credit scoring engine.
Finom’s credit offering is live in the Netherlands, with plans to expand lending across Europe by the end of 2025.
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Profitable and rapidly growing
While Stiskin didn’t disclose exact financials, he shared that Finom doubled its ARR in 2024 and is now EBITDAM-profitable (a measure excluding marketing spend). Its revenue model combines subscriptions, transaction fees, and cashback programs, with an emerging revenue stream from interest on loans.
The company has 505 employees, a 31.5% increase from last year, and recently appointed former Klarna executive Alessandro Camilotti as CFO.
Competitive edge and expansion plans
Finom sees French challenger bank Qonto as a key competitor but claims to differentiate through a stronger localization strategy and a modular product suite. General Catalyst partner Zeynep Yavuz highlighted Finom’s proprietary KYC and anti-money laundering infrastructure as a standout feature, offering both compliance and user experience benefits.
Finom has now raised nearly €190 million ($214 million) in total funding, including a $56 million Series B in early 2024. Despite the capital raised, the startup has not disclosed its current valuation, though PitchBook listed it at $150.7 million post-money in 2021.
With fresh capital and increasing momentum, the company is positioning itself as a dominant player in Europe’s underserved SMB banking market, blending fintech innovation with AI-enabled automation to drive scale.
