Wamo, the European SME financial platform, has raised €10 million in Series A funding to accelerate expansion across Italy and the Nordics, enhance its product and roll out AI-driven tools across its business account platform. The round was led by TCEE Fund IV, advised by 3TS Capital Partners, with participation from Oleka Capital and existing investors.
The Helsinki and London-based company is licensed and regulated by the Finnish Financial Supervisory Authority and currently serves more than 15,000 SME customers across Europe. Adoption has tripled over the past 12 months, with particularly strong uptake in Southern Europe and the Nordics. Italy has emerged as a key growth market, and the Nordic fintech sector continues to be a core base.
More Than A Business Account
Wamo’s platform combines multi-currency business accounts, cards, invoicing and expense management in a unified interface designed for small businesses. The company is also integrating embedded lending into its platform, using real-time banking, payments and operational data to enable faster, data-driven underwriting. After launching its business loan service in Finland, Wamo plans to expand lending across Europe in Q2 2026 through strategic partnerships, targeting €100 million in lending volume over the next 12 months.
Founder Yanki Onen said the company’s ambition goes beyond 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. More than 15,000 European SMEs already bank on Wamo, and we are now on a fast track to deliver a hyper-personalised experience to many more. We want to reach 100,000 customers.”
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Why Investors Are Backing It
Pekka Maki, Managing Partner at 3TS Capital Partners, framed the opportunity as a structural one: “SME banking in Europe is still largely broken and the opportunity for a truly integrated platform is enormous. Wamo is one of the most focused teams we’ve seen tackling this problem, and their early traction in Italy and Finland validates the model.”
Ilker Sozdinler, General Partner at Oleka Capital, added: “SME banking in Europe remains underserved and fragmented. Wamo’s approach, combining intelligent automation with a focus on customer experience, positions them to capture significant market share.”
