Challenger bank Finom raises €92.7m from General Catalyst’s Customer Value Fund

07:08 - 09 May 2025

Financial Services

Challenger bank Finom announced its latest fundraising, a hefty €92.7 million from General Catalyst’s Customer Value Fund. The Amsterdam-founded startup, launched in 2019 by fintech veterans Andrey Petrov, Kos Stiskin, Oleg Laguta, and Yakov Novikov, has quietly positioned Cyprus as one of its four key European hubs.

The funding, first reported by TechCrunch, is notable not just for its size, but for its structure. According to co-founder and chairman Kos Stiskin, this was a non-traditional raise: no equity was exchanged, and the funds are ring-fenced solely for growth, not operations or product development.

In February 2025, the startup rolled out a digital banking expansion aimed squarely at European SMEs and solo entrepreneurs – its core market – by introducing an autonomous AI accounting agent. The next month, it launched a direct lending service, powered by an AI scoring engine. By the end of 2026, Finom plans to scale its credit products across Europe.

The numbers are already strong. The fintech has more than 100,000 active SME clients across Germany, France, Spain, and the Netherlands, among other countries, and has proven its product-market fit. This new capital injection brings its total raised to nearly €190 million and potentially signals that it’s far from done.

Challenger bank Finom raises €92.7m from General Catalyst’s Customer Value Fund

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