FINOM, a leading European digital banking solution for SMEs and entrepreneurs, announced today the launch of local IBAN accounts in France, empowering more French small and medium-sized businesses with customized financial services.
This expansion marks a significant milestone for FINOM, which secured its own Electronic Money Institution (EMI) license in the Netherlands in 2021.
Having served the French market through a trusted partner, FINOM is now leveraging its EMI license to directly provide French entrepreneurs with local IBAN accounts - a critical step for SMEs to conduct business seamlessly within the country. With this launch, French customers can access an enhanced onboarding experience, personalized data analysis, competitive FX rates, Swift payments, and FINOM's comprehensive suite of tools including accounts payable, accounts receivable, and expense management.
"FINOM is committed to simplifying the lives of European entrepreneurs, and we understand the unique needs of each market we serve," said Kos Stiskin, co-founder at FINOM. "By launching local IBAN accounts in France, we are taking a significant step towards empowering French SMEs with the financial tools they need to thrive. This expansion underscores the importance of the French market to FINOM, and we will continue to invest in and develop our payment infrastructure to support the growth of local businesses."
Since its inception in 2020, FINOM has rapidly grown to become one of Europe's leading financial platforms for SMEs and entrepreneurs, serving over 100,000 customers across Germany, France, Spain, the Netherlands, and Italy. The company's proprietary core banking system powers a comprehensive suite of products and services, and FINOM aims to offer coverage across the entire Eurozone by 2025.
The launch of local IBAN accounts in France follows FINOM's successful €50 million Series B funding round in February 2024, which has enabled the company to enhance its product offerings, expand marketing initiatives, and bolster accounting services to meet the evolving needs of SMEs across Europe.
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