The company specifically told TechCrunch that Finom is a digital bank for small and medium-sized enterprises based in Amsterdam, and digital banks for medium-sized and medium-sized enterprises have raised 92.7 million euros (about $105 million) in growth investment.

Finom Chairman and co-founder Kos Stiskin told TechCrunch that capital infusions “will be used for growth only” and not for growth or product development. He describes it as a non-traditional round of funds in which the general catalyst has no interest.

"(O) Your core operations are generating positive cash flow, with all new investments and funds being used directly to attract new customers," Stiskin said.

Finom is primarily engaged in banking, but this year, the company has expanded its products beyond digital banking services. In February, Finom launched what Stiskin said to be what European entrepreneurs and freelancers call “autonomous AI accounting agents.” In March, the startup expanded to direct loans, which included an AI-powered rating engine.

Stiskin added that Finom's credit products are available in the Netherlands and will expand with the scope at the end of the year.

Today, Finom accounts for over 100,000 operations in Germany, France, Spain, the Netherlands and Italy, and reports positive unit economics in all markets. Its revenue model is based primarily on subscriptions. Finom also generates revenue through transaction fees for certain services and provides competitive cash background plans. Recent loan expansion also opened up new sources of income through line-of-credit interest.

Stiskin declined to disclose tough revenue figures, but told TechCrunch that Finom doubled its annual recurring revenue in 2024, and that the company is “profitable for Ebitdam (interest, tax, tax, depreciation, amortization and marketing.”

Stiskin described Finom's closest competitor as Quitoto, a Paris-based Challenger bank that announced a 486 million euro (about $552 million) Class D fundraising round in January 2022. But Stiskin believes Finom has a "stronger localization strategy and a more comprehensive product suite."

Currently, Finom has 505 employees, a 31.5% increase from last year. Last September, the company was named Alessandro Camilotti, who was former head of finance and analysis at Klarna as its CFO.

Since its inception in 2020, Finom has raised a total of nearly €190 million (about US$214 million). In February 2024, Finom announced that it had raised €50 million (about $56 million) in Series B equity financing, co-led by general Catalyst and Northzone.

The startup declined to disclose its valuation. According to PitchBook, Finom is worth $150.7 million after the November 2021 currency, after €30 million (about $33.8 million) of seed funding from VCS Target Global, Tal Ventures and General Catalyst.

Zeynep Yavuz, partner at Catalyst General, believes that Finom "expresses strong executions in a market that is still deeply inadequate". She also believes that its modular infrastructure gives the company the ability to “efficiently scale” the location, “leverage common capabilities while localizing where needed.”

“We see Finom’s proprietary anti-money laundering and knowledge customers’ engine as an outstanding advantage – not only for compliance, but for customer experience,” Yavuz said.