Finom, a European financial services platform for small and medium-sized enterprises, reports that it has secured an investment of EUR 92.3 million from General Catalyst’s Customer Value Fund (CVF). This investment strengthens the long-standing partnership between General Catalyst and Finom and provides strategic and operational support as the company grows.
This investment comes on top of the €50m Series B round obtained by Finom in February 2024, co-led by General Catalyst and Northzone, bringing the total amount of financing to around €190m since its launch.
Unlike traditional growth capital, General Catalyst’s investment allows Finom to finance its customer acquisition without diluting investor participation or taking on additional risk, as General Catalyst assumes downside exposure.
“Having General Catalyst as our partner is an immense strategic strength for Finom,” says Kos Stiskin, chairman and co-founder of Finom (pictured with the other founders), in a note. “GC’s Customer Value Fund does not just invest capital, it offers expertise and alignment. It understands our business in depth and supports our growth in a way that preserves our equity and autonomy. With General Catalyst’s support, we can energetically expand across Europe, knowing we have a partner that shares our vision and is truly involved in our success”.
“We have invested in Finom since its foundation and are excited to consolidate our partnership. With strong growth, outstanding customer retention, and the support of the CVF investment round, we think Finom is well positioned to pursue its ambitious expansion plan in Europe,” adds Zeynep Yavuz, partner at General Catalyst.
Since its launch in 2020, Finom has expanded into major European markets, introducing local IBANs in Germany, France, Italy and Spain. The company attributes strong adoption and customer satisfaction to a localised product with a smooth user experience.
Finom, based in Amsterdam, has doubled its turnover in 2024 compared to the previous year and plans to maintain this pace in 2025, despite a less dynamic macroeconomic environment. Fintech currently serves over 100,000 companies in Germany, France, Spain, the Netherlands and Italy. The company records good profitability per customer in all markets, with a healthy customer lifecycle value in relation to acquisition costs.
The new financing supports Finom’s expansion into additional European markets, as well as increased local anchoring and accelerated customer acquisition. The company remains focused on sustainable growth, maintaining strong profitability and high customer satisfaction as it works towards full Eurozone coverage by the end of 2025.
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