Amsterdam based GoodA European Digital Financial Service Platform for entrepreneurs and SMEs has announced today that it has shut down the $ 115 million Series C fund to accelerate European expansion.
The round was led by AVP (formerly XA Venture Partners), with the participation of new investors, and the participation of the existing investor General Catalist, Northzone and Cogito Capital. Combined with the recent € 92.7 million dollar investment from the General Catalist Customer Price Fund, Finom has now collected more than $ 300 million for total funds.
“European entrepreneurs are some of the powered, creative and elastic people that you ever meet – but their financial equipment has not retained their ambition. In Finom, we are building a financial home that works at the speed of their concept and supports each of their moves“Said Andre PetravCEO and Finum co-founder. “This fund helps us faster in gaining the confidence of a million entrepreneurs not only in technology but also in Europe.“
Established in 2019, Finom is a digital financial service platform designed for the needs of entrepreneurs and SMEs. Finam provides a broad set of financial equipment that enables business owners to open an account quickly and manage them efficiently. The platform facilitates online financial management, pay, shipment and expenditure tracking.
This fund arrives when Finom accelerates growth across Europe, now serving more than 125,000 customers with local IBN accounts in Germany, France, Italy, Spain and the Netherlands. The company has set a goal to reach a million European business customers by the end of 2026.
Since its $ 1 million series B round in February 2021, Finom has doubled revenue in 2021 and has maintained a positive unit economy throughout the market. The company has reported a lifetime quality compared to the acquisition expenditure and its team has increased to more than 500 employees.
“This fund presents the validity of our views to create a true European business environment where entrepreneurs can achieve success regardless of their size,“Said SliceChairman and Finom co-founder. “This series C enables us to expand our reach across Europe and strengthen our position as a financial infrastructure supplier of European SMEs.“
The finum platform combines foreign currency services under AI-powered financial intelligence equipment and business banking, payment processing, invoice, spending, and a single electronic money institution license.
The company has recently entered the NDING market with the credit line for the Dutch business.
“We are fully fascinated by their effective performances of the phenomet, a multi-jagraffi techniques, in a very powerful and well-thought-out infrastructure,“Added Shenin FactorGeneral partner and co-chief of the Global Growth Equity in AVP. “This fund will enable their European SMEs to accelerate growth to strengthen their position as a financial partner for European SMEs.“
Worda Shaheen will join Finam’s board of directors as part of the fund of the fund.
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