Finnish accounting outfit Talenom has announced its acquisition of Nomo from Innocells, the corporate venture arm and digital innovation hub of Banco Sabadell.
Providing SMEs with accounting, account and payment traffic services, Talenom’s purchase of Nomo reinforces its entry into the Spanish micro-SME market.
As a “digital all-in-one” platform, Nomo will help Talenom target Spain’s underserved sector of 6 million micro-SMEs, offering them better control over accounting, finances and tax. The Nomo platform includes solutions for sale invoicing, expense management, bank connectivity and reconciliation, payment accounts and cards, accounting and tax advisory.
Nomo, an inhouse incubated startup of Banco Sabadell, received €2.5 million of investment from the bank in January 2021, and has since added new account and card offerings. Earlier this year Nomo stated that it quadrupled its paying customers in 2021.