FINOM secures 92.3 million euros from the General Catalyst Customer Value Fund
Summary
The capital comes from a special financing structure that gives the company additional flexibility: unlike traditional equity rounds, the CVFs commitment does not lead to a dilution of shares.Partnership with General Catalyst to be expandedGeneral Catalyst is one of FINOMs earliest supporters and has been invested in the company since its foundation. As recently as February 2024, the company raised 50 million euros in a Series B round - also with the participation of General Catalyst and Northzone.The new form of financing via the CVF is specifically aimed at financing growth measures such as customer acquisition without additional risks or loss of control for the company. General Catalyst bears the risk of loss - a model that is becoming increasingly established among high-growth start-ups.FINOM currently supports over 100,000 small and medium-sized companies in five core European markets: Germany, France, Italy, Spain and the Netherlands. In these markets, the company offers local IBANs, invoice management, payment solutions and expense tracking, among other things - via a fully digital platform.Despite a challenging economic environment, FINOM was able to double its turnover in 2024. The declared aim is to achieve full market coverage in the eurozone by the end of 2025 by continuously adapting its offering to the requirements of local markets - both functionally and in terms of regulation.With its e-money license, which is valid throughout Europe, FINOM believes it is well positioned for this next growth step.