Finom secures $105 million growth investment from General Catalyst
Finom, the Amsterdam-based financial management platform for SMEs and freelancers, has secured a $105 million growth investment from the Customer Value Fund of long-time investor General Catalyst.
0
This investment follows Finom's €50 million ($54 million) Series B in February 2024, co-led by General Catalyst and Northzone, bringing its total funding to nearly €190 million ($200 million) since launch.
Finom currently serves over 100,000 businesses across Germany, France, Spain, the Netherlands, and Italy and will apply the new funding line to expand to other EU markets.
Unlike traditional growth capital, General Catalyst's investment allows Finom to finance their investment on acquiring customers without diluting shareholders or taking on additional risk, as GC assumes the downside exposure. In return, GC is entitled only to the customer value created by that spend, and GC's entitlement is capped at a fixed amount.
Kos Stiskin, Finom's chairman and co-founder, says: "GC's Customer Value Fund is not just about injecting capital - it's about injecting expertise and alignment. They understand our business deeply and are funding growth in a way that preserves our equity and autonomy. With GC's support, we can aggressively expand across Europe, knowing we have a partner who shares our vision and is truly invested in our success."
Since its launch in 2020, Finom has expanded across key European markets, introducing local Iban accounts in Germany, France, Italy and Spain.
The Amsterdam-based company doubled revenue in 2024 and expects to sustain that pace in 2025, despite a softer macroeconomic environment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Telegraph
28 minutes ago
- Telegraph
Poundland rescue deal in doubt as councils seek unpaid business rates
A rescue deal for Poundland has been thrown into doubt after the struggling high street chain was hit with a series of court claims for outstanding debts. A string of local councils are pursuing the discount retailer over unpaid business rates, potentially piling further pressure on its already-stretched finances. Sources close to sale talks for Poundland fear the overdue taxes, thought to be worth millions of pounds, could scupper attempts to safeguard the company's future by scaring away potential buyers. It is understood that Poundland is hoping to write off the outstanding payments as part of a radical turnaround plan drawn up by management. The company is also proposing a freeze on future business rates payments for as long as nine months if it ends up in the hands of new owners. The plan also envisages between 150 and 200 store closures and steep rent cuts of between 10pc and 50pc on hundreds more. Poundland has more than 800 shops across the UK, employing 16,000 people. The measures, designed to put the business on a firmer financial footing, are expected to be implemented via a court-sanctioned restructuring scheme. However, there is no guarantee that a judge will approve the proposal. It comes after an auction of Poundland was whittled down to a shoot-out between the distressed investment funds Gordon Brothers and Hilco. Reports suggest Gordon Brothers, which owns Mothercare, is the frontrunner. Poundland was put on the block earlier this year by its Polish owner Pepco after becoming an increasing financial burden. Pepco crashed to a £548m loss in December after taking a £650m write-down on Poundland, as bosses blamed a 'significant decline in performance' and spiralling costs. Last month, Pepco told investors not to expect 'major proceeds' from any sale of Poundland. It also warned that the chain might not make a profit in the forthcoming financial year. The business continued to face 'highly challenging trading conditions' in the six months to the end of March, it said. Like-for-like sales were down 7.3pc and pre-tax earnings slumped three quarters to €22m (£18.6m).
BBC News
32 minutes ago
- BBC News
Liverpool finalising deal for Leverkusen's Wirtz
Liverpool's move for Bayer Leverkusen playmaker Florian Wirtz is at an advanced stage, with the clubs in discussions over the structure of a transfer that could be worth £ Reds submitted a third formal bid for the Germany playmaker last week, worth £100m guaranteed and a further £14m of add-ons. If completed, it would smash the club's £75m record signing of captain Virgil van Dijk in 2018. Sources have told BBC Sport that talks are now focused on the structure of the final details of the transfer, including the value of the add-ons and how achievable they are. Leverkusen had valued the midfielder at around £126mWirtz, 22, has made it clear that his preference is to move to Anfield following interest from Manchester City and Bayern made his debut for Leverkusen at the age of 17 and has scored 57 goals in 197 games for the helped them win the Bundesliga for the first time in 2024 and has scored seven goals in 31 appearances for Germany since making his national debut in 2021. Liverpool have already signed one player from the German club this summer, with full-back Jeremie Frimpong arriving in a £34m deal.
The Independent
43 minutes ago
- The Independent
Best Nintendo Switch 2 cases to protect your console, tried and tested
The runners-up The Spigen dual grip case (£20.99, sounds like a neat idea – a minimalist backplate case for the Nintendo Switch 2 that's designed to add a bit of grip without much bulk. In practice, it's not up to snuff. Made of flimsy plastic that doesn't feel especially protective, it attaches using sticky adhesive strips, which feel more DIY than premium. You can't detach the Joy-Cons once they're on, and docking becomes a faff. It's the only minimal-style case I tested, but it didn't make my list because it just doesn't offer enough function, comfort or protection to justify the price. The verdict: Nintendo Switch 2 cases If you've just shelled out for a Nintendo Switch 2, a good case is an essential. Orzly's carry case is the best all-rounder. It's sturdy, protective and lightweight. It housed all our game cards and had room for cables and even a power bank.
