Finom, an Amsterdam-based digital bank, has secured â¬92.7 million in a growth investment from General Catalyst, aimed solely at scaling operations rather than covering operational costs. Co-founder Kos Stiskin emphasized the company's focus on attracting new clients, supported by positive cash flow from current operations. Alongside traditional banking, Finom has introduced innovative services such as an AI accounting agent and is expanding into direct lending. With a rapidly growing customer base and impressive revenue growth, Finom stands out in the European fintech landscape.
"Our core operations are generating positive cash flow, and all new investments and funding go directly toward attracting new clients," said Kos Stiskin, Finom's chairman.
Finom unveiled what Stiskin described as an 'autonomous AI accounting agent' for entrepreneurs and freelancers in Europe, expanding beyond traditional banking.
Finom's credit offering, available in the Netherlands, will be expanded across Europe by year's end, indicative of their growth strategy.
Stiskin noted that Finom doubled its annual recurring revenue in 2024 and is 'EBITDAM profitable', showcasing strong financial health.
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