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.