Wamo, a financial operating platform for small and medium-sized enterprises (SMEs), has raised €10 million in a Series A funding round to support its expansion in Italy and the Nordic region, enhance product capabilities, and roll out AI-driven tools.
The majority of the funding was provided by TCEE Fund IV, advised by 3TS Capital Partners, a technology-focused growth capital firm investing across Emerging Europe. Oleka Capital and existing investors also participated in the round.
Founded in 2021 and headquartered in Helsinki and London, Wamo is licensed and regulated by the Finnish Financial Supervisory Authority as a pan-European electronic money institution. The company provides a multi-currency business account integrated with cards, invoicing, expense management, and other embedded financial tools within a unified platform designed for SMEs.
In addition to its core financial services, Wamo integrates lending into its platform, using real-time banking, payments, and operational data to enable faster, data-driven underwriting.
Commenting on the development, Yanki Önen, Founder of Wamo, said:
European SMEs need smarter infrastructure, not just digital banking. We are integrating AI and automation across our platform to reduce friction, unlock better insights and give businesses clearer control over their finances.
Wamo’s platform is currently used by more than 15,000 customers across Europe, with adoption having tripled over the past 12 months. Growth has been particularly strong in Southern Europe and the Nordics, with Italy emerging as a key expansion market.
The new funding will be used to accelerate geographic expansion, further develop AI-enabled features, and scale the company’s financial services offering, supporting SMEs with accessible financial infrastructure and data-driven tools to facilitate growth and operational efficiency.
Would you like to write the first comment?
Login to post comments