Exclusive Interview: Andrey Petrov, Director at Finom – Europe’s Smart Business Neobank

Discover how Finom innovates business banking with e-invoicing, multi-currency accounts, and more…

Company Overview

Finom, based in Amsterdam, launched in 2019 as an electronic money institution (EMI) and neobank focused on freelancers and SMEs across Europe. It offers a unified financial operating system combining business current accounts, multi-IBANs, e-invoicing, expense management, and accounting integrations.

Interview with Andrey Petrov, Co-founder and Director at Finom

Q1: Please introduce yourself and your role at Finom.

I’m Andrey Petrov, co-founder and director at Finom. I manage product strategy, compliance oversight, and international expansion.

Q2: What problem did Finom aim to solve?

Small businesses were using fragmented tools: separate systems for banking, invoicing, bookkeeping. We created an all-in-one solution.

Q3: How has the company evolved since 2019?

We started in Italy with e-invoicing and now serve customers across Germany, France, and the Netherlands with a complete financial suite.

Q4: What are your core products and features?

We provide business current accounts, multi-IBAN wallets, expense cards, invoicing tools, real-time reconciliation, and currency conversion.

Q5: How does invoicing work inside Finom?

Users can create tax-compliant invoices, automate reminders, and integrate accounting directly within the app.

Q6: What subscription plans do you offer?

Free tier for freelancers, Pro for growing businesses with advanced needs, and custom enterprise pricing.

Q7: How do you manage compliance as an EMI?

We’re fully PSD2-compliant, apply strong AML/KYC procedures, and use regulated safeguarding accounts.

Q8: What’s your security model?

We use 2FA, instant card control, session monitoring, and AI-based fraud detection.

Q9: Who are your key competitors in Europe?

Bunq in the Netherlands, Qonto in France, N26 Business in Germany, and other EMIs like Revolut Business.

Q10: How is Finom different from Bunq or Qonto?

Unlike most, we offer a unified experience with e-invoicing, bookkeeping, and banking in one interface.

Q11: Which countries do you serve?

We’re live in 24+ EU/EEA countries, with a strong focus on Germany, Italy, France, and the Netherlands.

Q12: What are your next steps in expansion?

More EU coverage and deeper integration with external tools like QuickBooks, Xero, and e-commerce platforms.

Q13: Can you share recent funding or growth metrics?

We closed a €6.5 million seed round with Target Global and General Catalyst, and we’ve seen rapid growth in active accounts and transaction volume.

Q14: How large is the Finom team today?

Roughly 120 people across product, tech, compliance, and support teams, mostly based in Amsterdam and remotely across Europe.

Q15: Biggest challenge scaling in the EU?

Adapting to each country’s invoicing, AML, and VAT rules. We built a modular compliance and tax logic engine to handle this.

Q16: What tech powers the Finom platform?

Cloud-native backend, microservices architecture, with React on the frontend and full REST API availability.

Q17: Did your time at Modulbank shape Finom?

Absolutely. It taught us what doesn’t scale. Finom was built digital-first, with no legacy banking code.

Q18: What KPIs do you monitor?

Monthly active businesses, invoice volume, churn, ARPU (average revenue per user), and onboarding-to-first-transaction time.

Q19: How do you support cross-border businesses with FX?

Via low-cost foreign exchange and multi-currency wallets (EUR, GBP, USD), with real-time visibility.

Q20: Why should a freelancer or SME use Finom?

It saves time, consolidates tools, and offers fast, simple banking and invoicing in a single dashboard.

Finom Product and Service Overview

• Business current accounts with EU IBANs

• Multi-IBAN wallet per company

• Expense management and company cards

• EU-compliant invoicing

• Accounting sync (Xero, QuickBooks)

• Multi-currency support

• Real-time payment notifications

• Tiered subscriptions: Free / Pro / Enterprise

Competitor Analysis Table

FAQ

Is Finom a bank?
No, Finom is an EMI (electronic money institution), fully PSD2-licensed.

Can I open an account as a freelancer?
Yes — Finom is ideal for freelancers, self-employed, and SMEs.

Is Finom secure?
Yes — It applies industry-grade security protocols, 2FA, and encrypted data handling.

Does Finom offer FX services?
Yes — Pro plans include multi-currency wallets and competitive FX.

Which countries are supported?
Currently across the EU/EEA. Full functionality in DE, FR, NL, IT.

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