Finom offers a digital banking platform that provides online IBAN accounts for SMEs, freelancers, and self-employed individuals, featuring integrated invoicing and accounting tools. The platform enables users to manage payments, control expenses, and earn up to 3% cashback on transactions, significantly improving financial efficiency and cash flow management.
Funding
$111M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+3Founders
Product
Problem
Small and medium-sized enterprises (SMEs), freelancers, and self-employed individuals often struggle with inefficient financial management due to fragmented tools for banking, invoicing, and accounting. This leads to increased administrative overhead, difficulty in tracking cash flow, and potential errors in financial reporting.
Solution
Finom provides a digital banking platform designed to streamline financial operations for SMEs, freelancers, and the self-employed. The platform offers online IBAN accounts with integrated invoicing and accounting tools, enabling users to manage payments, control expenses, and automate financial tasks. By consolidating these essential functions into a single interface, Finom aims to improve financial efficiency, reduce administrative burdens, and provide better visibility into cash flow, allowing businesses to focus on core operations. The platform supports features such as automated reconciliation, multi-user access for employees and accountants, and integration with accounting software.
Target Audience
Finom primarily targets SMEs, freelancers, and self-employed individuals who need a comprehensive digital banking solution to manage their finances more efficiently.
Features
- Online IBAN account opening for businesses and freelancers.
- Integrated invoicing tools for creating and sending professional invoices.
- Automated expense tracking and categorization.
- Cashback rewards on eligible transactions.
- Multi-user access with role-based permissions for employees and accountants.
- Integration with popular accounting software platforms.
- SEPA transfers for efficient payments within the Eurozone.
- Mobile app for managing finances on the go.