The FinTech platform FINOM is expanding to the Netherlands

By Gloria Methri

FINOM, the financial management platform for SMEs and freelancers, has announced its launch in the Netherlands. The recent milestone marks the company’s continued expansion into Europe, having recently launched in the UK and becoming one of the fastest growing financial services apps in Germany.

For the launch on the Dutch market, FINOM has activated its e-money license in the Netherlands to focus on delivering onboarding and customer services.

FINOM has its headquarters in Amsterdam and has been present in the Netherlands from day one. However, in its search for a local banking partner, the company acquired an e-money license from De Nederlandsche Bank (DNB) in 2021, rather than launching into other European markets first.

“Today we enter the Dutch market, our home base. When we founded FINOM in 2019, we made the strategic decision to start our local operations when we had our own license for electronic money, which we bought last year, after only 14 months. Now we can freely expand into all EU markets using our own infrastructure, from our home market,” said Sergey Petrov, co-founder and CEO of FINOM payments BV

“We are excited to be able to bring our online financial service to SMEs and professionals working in the Netherlands. We are not only building a pan-European business, but a business that helps other businesses thrive. And we are proud to do so from our native Netherlands.”

Founded in 2019, FINOM has been on a mission to simplify financial operations for entrepreneurs, freelancers and SMEs by unifying financial management and e-invoicing services, and payment options such as SEPA and SWIFT, together in one dashboard.

FINOM has also partnered with VISA and Klarna to offer virtual and physical VISA debit cards respectively and facilitate multi-banking.

– For entrepreneurs, self-employed people and small and medium-sized businesses, it is of great importance to have full control over their finances. This is particularly important with today’s level of inflation in order to keep the economy in order. This is precisely why we are excited about our collaboration with FINOM. Together, we are working on ways to provide these business customers with convenient, digital and secure means of payment that enable them to thrive in all circumstances, said Jos van de Kerkhof, Country Manager Visa Netherlands.

After starting with major countries such as France and Germany, FINOM is now gradually seeking to showcase its practicality and presence across Europe, expanding its product offering in Italy by the end of 2022, while launching in five additional markets by the end of 2023 , including Poland, Spain, Austria, Portugal and Belgium.