Finom, a challenger bank aimed at SMBs, lands $105M in growth funding from General Catalyst

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Finom, an Amsterdam-based digital bank for small- and medium-sized businesses, has raised €92.7 million (roughly $105 million) in a growth investment from General Catalyst’s Customer Value Fund, the company tells TechCrunch exclusively.

The capital infusion “will be used exclusively and only for growth” and not for operational expenses or product development, Kos Stiskin, Finom’s chairman and co-founder, told TechCrunch. He described it as a non-traditional funding round in which General Catalyst doesn’t take any equity.

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Finom, a challenger bank aimed at SMBs, lands $105M in growth funding from General Catalyst


Finom, an Amsterdam-based digital bank for small- and medium-sized businesses, has raised €92.7 million (roughly $105 million) in a growth investment from General Catalyst’s Customer Value Fund, the company tells TechCrunch exclusively.

The capital infusion “will be used exclusively and only for growth” and not for operational expenses or product development, Kos Stiskin, Finom’s chairman and co-founder, told TechCrunch. He described it as a non-traditional funding round in which General Catalyst doesn’t take any equity.

“[O]ur…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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