ThinThe digital bank based in Amsterdam for small and medium -sized firms collected EUR 92.7 million (about USD 105 million) in the Growth Investment from the General Catalyst Customer Fund, informs TechCrunch exclusively.
Capital infusion “will be used only and only for growth”, and not for operating expenses or product development, said Techcrunch Kos Stiskin, president and co -founder of Finns. He described this as a non -traditional financing round in which the general catalyst does not accept any own capital.
“[O]Your basic operations generate positive cash flows, and they allocate all new investments and financing directly to attract new customers, “said Stiskin.
FINOM is primarily in the banking industry, but this 12 months the company has expanded its offer outside of digital banking services. In February, the Finns presented what Stiskin described as an “autonomous AI accounting agent” for entrepreneurs and freelancers in Europe. And in March the startup expanded to direct loans, which include AI powered a scorer.
Stiskin added that the credit offer of Finns, available in the Netherlands, can be expanded throughout Europe by the end of the 12 months.
Today, the Finnish has over 100,000 firms in Germany, France, Spain, the Netherlands and Italy as clients, reporting the positive economics of units in all markets. His revenue model is based totally on subscription. FINOM also generates revenues through transaction fees for some services and offers a competitive return program. A recent loan extension has also opened a latest stream of revenues through interest on credit lines.
Stiskin refused to disclose hard revenues, but told Techcrunch that Finns doubled his annual revenue in 2024 and that the company is “”EBITDAM (Profit before interest, taxes, depreciation and marketing) profitable. “
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In an interview, Stiskin described the closest competitor to Finns as Qonto, Parisian Presidential Bank, who in January 2022 announced a huge round of financing of the D series in the amount of EUR 486 million (USD 548 million). But Stiskin believes that Finns has a “stronger location strategy and a more comprehensive set of products.”
FINOM currently has 505 employees, by 31.5% compared to last 12 months. In September, the company called Alessandro Camotrotti, former head of EU finance and analytics in Klara, as a financial director.
In total, the Finns collected almost 190 million euros (about 214 million dollars) from the time of creating in 2020 in February 2024, the Finns announced that he had collected 50 million euros (about $ 56 million) in the financial round of the B series, led by General Catalyst and Northzone.
The startup refused to disclose the valuation. According to PitchbookFinans was priced at $ 150.7 million to money in November 2021, 30 million euros (about $ 33.8 million) rounds with sowing from VCS Target Global, Tal Ventures and General Catalyst.
Zeynep Yavuz, a partner of General Catalyst, believes that the Finns “has shown a strong implementation on the market, which is still deeply rounded.” She also believes that its modular infrastructure gives the company the possibility of “effective scaling” throughout geography, “using common possibilities, while locating if necessary.”
“We see your individual FINOMA and Know-Customer engine with laundry