Finom Company Market Research Report
Company Overview
Name:
Finom
Mission of the Company
To develop an all-in-one financial B2B solution integrating banking functions, accounting, financial management, and invoicing into a seamless, mobile-first platform.
Founding
- Founded: 2019
- Founders: No information is available
Key People in the Company
- Adam Valkin
- Jane Zavalishina, Independent Non-Executive Director
- Maria Dolgova
- Yakov Novikov
Headquarters
- Location: Amsterdam, North Holland
Number of Employees
- Employees: 201-500 employees
Revenue
No information is available
What is the Company Known For
Financial solutions for entrepreneurs and freelancers that combine business account benefits with multiple services including instant online account opening, invoicing, and cashback on all transactions.
Products
Overview
Finom offers various financial products and services designed to meet the needs of freelancers, SMEs, and large enterprises.
Product Offerings
1. Business Account:
- Description: Fully online business account featuring multi-currency management, European IBAN, and free physical & virtual cards.
- Key Features:
- Account opened online in 24 hours
- No monthly fee for the Solo plan
- Up to 3% cashback
- Fast signup via smartphone or laptop
- Apple Pay & Google Pay integration
- Secure with passkeys and 3D Secure
2. Invoicing:
- Description: Built-in invoicing and bookkeeping solution.
- Key Features:
- Invoices ready in less than 60 seconds
- Automated customer reminders on overdue payments
- Document collection and accounting-ready data export
3. Expense Management:
- Description: Tool to control team and personal expenses.
- Key Features:
- Issue, top-up or limit cards for employees
- Real-time expense tracking
- Employees receipts upload via a camera tap
- Bulk export of documents and transactions data
4. Cashback:
- Description: Cashback rewards on all card transactions.
- Key Features:
- Up to 3% cashback on all in-store and online purchases with VISA cards
Recent Developments
Awards and Recognition
- April 2024: Finom wins ‘Best SME Banking Solutions Provider’ at the Global BankTech Awards.
New Products Launched
- No information is available
New Features Added to Existing Products
1. August 2024: Enhanced customer security measures designed to make Finom safer compared to traditional banks in some aspects.
2. July 2024: F.A.Z. Kaufkompass ranks Finom's 'Start' business account plan in the Top 3 Best Business Accounts for its smart invoicing tools and receipt reconciliation.
Partnerships
- Visa Partnership: Enabled unique promotions such as experiences at the Paris Olympic Games for cardholders.
Cultural and Values Initiative
- Values Defined (July 2024):
- Build with Bravery
- Get Things Done
- Make It FINOMenal
- This is a Team Game
Conclusion
Finom continues to evolve as a prominent fintech company focused on providing comprehensive financial solutions to freelancers and SMEs. With a robust suite of products, innovative features, and a commitment to security and customer satisfaction, Finom is carving out a significant position in the financial services landscape.