Amsterdam-based Finom, a challenger bank aimed at SMEs and entrepreneurs, said it has secured a growth investment of €92.3 million from General Catalyst’s Customer Value Fund (CVF).
Finom describes itsekf as an “all-in-one business solution that merges accounting, financial management, and banking into a seamless, mobile-first platform” for entrepreneurs.
“This investment is of a new type — not a traditional funding round,” said Finom.
“It comes through General Catalyst’s innovative Customer Value Fund, which provides growth capital without diluting existing shareholders or adding company risk.
“Unlike conventional equity investments, CVF specifically funds our customer acquisition efforts, with repayment tied exclusively to the performance of customers acquired with this capital.
“This means General Catalyst assumes the downside exposure if these new customer cohorts don’t perform as expected …
“This investment represents more than just capital — it deepens our long-standing partnership with General Catalyst, who has supported Finom since our founding and co-led our €50 million Series B funding round in February 2024.
“With this latest non-dilutive growth investment, our total capital raised approaches €190 million ($200 million), providing us with the resources needed to accelerate our mission across Europe while preserving our cap table …
“Since our launch in 2020, Finom has expanded rapidly across key European markets, introducing local IBAN accounts in Germany, France, Italy, and Spain. Our approach of combining localized products with seamless user experiences has resonated strongly with customers, driving impressive adoption rates and high satisfaction scores.
“We’re proud to report that we doubled our revenue in 2024 and expect to maintain this growth trajectory throughout 2025, despite challenging macroeconomic conditions. Today, Finom serves over 100,000 businesses across five European countries, with positive unit economics in all markets and healthy customer lifetime value relative to acquisition costs.”