The Dutch company will use the funds to improve existing product offerings, further marketing initiatives, and expand accounting services to meet the growing demands of SMEs. “We’re beginning a journey in the EU’s SME banking sector, where there’s still vast growth potential, with less than 3% market penetration achieved so far by neobanking contenders,” says Kos Stiskin, co-founder at FINOM. “In this fast-evolving landscape, FINOM is committed to becoming the leader in the EU through adapting our unified platform infrastructure, while paying close attention to the unique characteristics of each country we serve. We recognised what we believe to be an exceptional and experienced team with a compelling vision to empower more than 20 million small businesses in Europe,” says Adam Valkin, Managing Director at General Catalyst. However, the true platform potential of Finom is seen through its payments and microservices software offering for SMEs, with clearly demonstrated success across several major Western European economies.