Helsinki and London based financial operating platform Wamo has secured 10 million EUR in Series A funding. The round was led by TCEE Fund IV, which is advised by 3TS Capital Partners, with participation from Oleka Capital and existing investors. Wamo provides small and medium sized enterprises with multi currency business accounts, card services, invoicing, and expense management tools alongside integrated lending features driven by AI underwriting.
The capital will be used to support the company expansion across Europe, specifically targeting growth in Italy and the Nordic region. Furthermore, the company intends to utilize the investment to enhance its product suite, roll out new AI enabled features, and scale its embedded lending and digital banking services. Regulated by the Finnish Financial Supervisory Authority as a pan European electronic money institution, Wamo aims to build on its existing footprint as it scales its financial services offering for the SME market.
The capital will be used to support the company expansion across Europe, specifically targeting growth in Italy and the Nordic region. Furthermore, the company intends to utilize the investment to enhance its product suite, roll out new AI enabled features, and scale its embedded lending and digital banking services. Regulated by the Finnish Financial Supervisory Authority as a pan European electronic money institution, Wamo aims to build on its existing footprint as it scales its financial services offering for the SME market.