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Finom Secures €115 Million Series C as Challenger Bank Sets Bold European Expansion Agenda

by THEFUTURE.TEAM

June 23, 2025

Robust Funding Amidst a Competitive Landscape

Amid a tightening investment environment, Finom, an Amsterdam-based challenger bank, has attracted significant investor attention. The five-year-old startup, which targets small and medium-size businesses (SMBs) across Europe, recently secured a €115 million Series C equity round (approximately $133 million), following a $105 million growth funding round from General Catalyst earlier this year. This fresh capital comes as Finom reports a doubling of its revenue in 2024 and reinforces its strategic pursuits in a dynamic financial sector.

Innovative Business Model Driving Growth

Finom has positioned itself at the intersection of banking, invoicing, and emerging financial technologies such as AI-enabled accounting. By offering an integrated platform designed to simplify financial management for European SMBs, the company aims to render traditional accounting processes obsolete. CEO Andrey Petrov encapsulates this vision by suggesting that entrepreneurs may soon operate independently of conventional accounting services.

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Strategic Investments and Unique Funding Structure

The latest Series C round was led by AVP (formerly AXA Venture Partners), with participation from new investor Headline Growth and established backers, including Cogito Capital, General Catalyst, and Northzone. Unlike typical venture capital arrangements, the involvement of General Catalyst’s Customer Value Fund, which contributed capital exclusively for growth initiatives, underscores a forward-thinking approach that prioritizes expansion over equity dilution. Chairman and co-founder Kos Stiskin noted that this innovative funding strategy, combined with the previous Series B round, could have expedited the company’s path to profitability.

Expanding Market Reach and Product Portfolio

Finom is not only concentrating on winning over clients from legacy banks but is also broadening its product portfolio. Strategic, opportunistic acquisitions are being considered to either increase customer bases or diversify product offerings. Although its operations are mostly confined to an electronic money institution (EMI) license in core markets like the Netherlands, France, Italy, and Spain, Finom is experimenting with lending in the Netherlands to validate its credit offerings—a critical component for any forward-looking fintech aimed at business clientele.

Leveraging AI and Transforming Leadership

Internally, Finom is embracing AI-driven efficiencies. The company is augmenting its team of 500 with new AI agents that automate routine tasks, thereby optimizing operational performance without significant headcount expansion. Additionally, the evolution of Finom’s leadership has streamlined decision-making processes. Having allowed Andrey Petrov to step into the sole CEO role while restructuring co-founder responsibilities has clarified its strategic vision, particularly as the company shifts focus towards larger European markets where challenger banks are fewer and traditional banks often underperform in serving SMBs.

A Vision for the Future

With its recent funding milestones and ongoing innovation, Finom is well-positioned to capitalize on the extensive opportunities within Europe’s vast SMB market. By focusing on integrated financial solutions and leveraging both technological advancements and strategic acquisitions, Finom aims to become a cornerstone in the European financial ecosystem—a goal that resonates with the continent’s vibrant entrepreneurial spirit.

The Future Forbes Realty Global Properties

by News Editor

August 24, 2026

Courts Are Still Applying Old Copyright Rules To AI

AI companies train models on enormous amounts of published material, including books, articles and academic research. Whether using that content without authors’ permission violates copyright law remains unresolved.

Much of the debate centres on fair use, which allows copyrighted material to be used without permission in certain circumstances. Courts consider factors such as the purpose of the use, how much material was involved and its impact on the original market.

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Anthropic Case Sets An Important Precedent

A major case involving Anthropic and a group of authors provided one of the clearest rulings so far. Judge William Alsup found that using copyrighted books to train AI models was lawful, comparing the process to people reading and studying literature before creating something new.

Anthropic was nevertheless ordered to pay $1.5 billion in a settlement. The penalty concerned books the company had obtained from illegal online libraries rather than the AI training itself.

For AI companies, that distinction could prove significant because it separates studying copyrighted material from directly copying it.

Competition Could Be The Key Issue

A case involving Thomson Reuters and Ross Intelligence offers a different perspective. A court ruled that Ross could not claim fair use after using Reuters’ copyrighted material to develop a competing AI-powered legal research platform.

The decision suggests courts may be less willing to consider AI training fair use when copyrighted content is used to build a product that directly competes with the original.

For authors, an unresolved question is whether AI-generated content should be considered competition for the works used to train these models.

The Law Has Yet To Catch Up

US copyright law predates generative AI by decades, leaving courts to apply old principles to new technology. Questions also remain over copyright protection for AI-generated works. In Thaler v. Perlmutter, a court ruled that material created entirely by AI cannot receive copyright protection.

Major AI companies remain involved in copyright litigation, and different courts could reach different conclusions. For now, there is no universal rule: the legality of AI training will depend on the circumstances of each case and how courts ultimately interpret copyright and fair use.