Finom

Finom - - fintechstartup created by the founders of Modulbank"," and Andrey Petrov Oleg Laguta. Yakov Novikov Investor Konstantin Stiskin also participated in the creation of a startup. The company offers online services for small and medium-sized businesses, freelancers and the self-employed in. To Europe Finom is registered in. The founding Holland date is 2019.

On the platform, Finom allows you to link multiple bank accounts to your account to manage finances "in a single window." You can manage your Finom account through your mobile application or its web version.

History

2022: Finom acquires Kapaga for $1.9m

On November 9, 2022, Finom, an online financial services company for small and medium-sized enterprises (SMEs), acquired the cross-border payment technology Kapaga in a deal worth at least £10 million ($11.4 million). Read more here.

2020

Start work in France

In December 2020, it became known about the start of Finom in France. This was reported on the official page of the digital bank on the social network Facebook.

After the launch in Germany last October, we also conquered the French market, with innovative services, integration of accounting, electronic invoice, financial management and banking operations, Finom said.

Finom digital bank started working in France

To work in the French market, the company began to cooperate with the Trezor platform, which is jointly developed by the Societe Generale group and the Mastercard payment system.

Today we are launching a new financial B2B service in the European market, which is very difficult. Our main task is to make the life of 36 million European entrepreneurs and freelancers easier. We are pursuing an ambitious goal of having 1 million business customers in Europe by 2025. We want to build a society of unicorns that are never many! - said Konstantin Stiskin, co-founder of Finom, responsible for licensing operations, fundraising and business development.

The Finom website says that before the launch in France, the service attracted about 1,000 pre-registered customers. This state became the first European market where local residents will have access to comprehensive financial services, including financial management, billing and banking services, the company added.

In France, Finom offers the following features:

• bank accounts and digital wallets with French numbers (IBAN);
• managing accounts in one application, including those opened from other banks;
• digital wallets;
• Mastercard debit virtual cards that are created in a few seconds. If desired, you can get "plastic";
• Quickly open accounts for doing business
• Access to services for multiple users within the same account
• quick online billing.^[1][2]

Attracting €10.3 million euros of investment

At the end of September 2020, Finom announced it had raised €10.3 million in investments. Taking into account this round of financing, the total amount of money received by the fintech startup since the beginning of 2020 has reached €16.8 million.

The company's investors included Target Global (Germany), Cogito Capital (Poland), Entree Capital (Israel), Avala Capital (Germany), Tal Capital (USA) and Adfirst Ventures (Cyprus).

The investments that Finom attracted at the end of September 2020 will go to improving the product, entering new markets in Europe, as well as developing licensing activities, TechCrunch reports.

Fintech company of Modulbank founders Finom raised €10.3 million

By September 25, 2020, Finom operates in Italy, but in October 2020, the project service will be launched in France and Germany. The Finom service has free fares, and the most expensive - premium and corporate - cost customers 25 and 130 euros, respectively.

Like many other small and medium-sized business-oriented neobanks, Finom targets countries with relatively low penetration of online banking. This is, for example, Poland,, and Spain Austria. Switzerland The company estimates the volume of the small business banking market in Europe at more than €100 billion.^[3]

Notes