B2B financial service start-up Finom– which supplies online financial services for SMEs, freelancers and the self-employed in Europe– has raised an extra$12 million(EUR10.3 million)to add to its previous seed round of EUR6.5 million last April. The overall financing raised in 2020 is now EUR16.8 million, and this is before the business has actually done a Series A round. Financiers consist of Target International (Germany), Cogito Capital (Poland), Entree Capital(Israel), Avala Capital (Germany), Tal Capital (India)and Adfirst Ventures FJ Labs(USA). The extra financial investment round will allow Finom to extend its certified activities, establish
item and get in brand-new European markets. Established in 2019, Finom is based out of the Netherlands and was founded by the group formerly responsible to Modulbank
, a B2B online bank in Russia. So far it is offering an e-invoicing service in Italy, and will release in France this October. Comparable to other online opposition banks aimed at SMEs, the company is targeting countries where there is
a reasonably low penetration of online SME banking gamers, such as Poland, Spain, Austria, Switzerland. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.