Wamo, a UK-headquartered fintech, has raised a $1.5m seed extension round, AltFi can exclusively reveal.
In brief:
-Wamo is expanding its team and suite of credit products as well as gearing up to apply for an electronic money institution (EMI) license in Finland.
-Wamo is a digital business account provider and says it has processed close to €1.3bn in transactions to date, opening business accounts for 7,500 new customers in Europe and the UK.
-The round is led by Finberg, the corporate venture investment arm of Turkish bank Fibabank, with existing investor RePie Asset Management also taking part.
What does this mean?
“We’re determined to reduce the friction SMEs face when looking to open a business account and this seed extension investment takes us one step closer to being able to do just that. We’re always evolving in line with the needs of our customers and our ambition is to be the growth partner of choice for SMEs,” Yanki Onen, CEO and founder of Wamo said.
