Wamo, a European financial operating platform for small and medium-sized enterprises (SMEs), has secured €10m in Series A funding to drive expansion into Italy and the Nordics, bolster its product suite, and roll out artificial intelligence (AI)-powered tools across its business account offering.
The round was led by TCEE Fund IV, advised by 3TS Capital Partners. WealthTech investor Oleka Capital and a number of existing backers also contributed to the raise.
Wamo holds a licence from the Finnish Financial Supervisory Authority and operates a multi-currency business account platform serving more than 15,000 customers across Europe. Its offering spans cards, invoicing and expense management, all brought together within a single platform tailored to the needs of SMEs. Customer adoption has tripled over the past year, with particularly strong momentum recorded in Southern Europe and the Nordics, and Italy standing out as a key growth market.
With access to financing continuing to pose a structural barrier for SMEs across the continent, Wamo is positioning embedded lending as a central pillar of its platform. The company draws on real-time banking, payments and operational data to support faster, data-led underwriting decisions. Having already launched a business loan product in Finland, Wamo intends to extend lending services across Europe in Q2 2026 via strategic partnerships, with a target of €100m in lending volume over the next 12 months.
Wamo founder Yanki Önen 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. Our AI-native solutions are designed to be invisible, helping customers seamlessly without friction.
“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, and make every single Wamo experience unique and specific to each of them.”
3TS Capital Partners managing partner Pekka Mäki said, “SME banking in Europe is still largely broken and the opportunity for a genuinely 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. Having backed fintech leaders across the continent for over 20 years, we know what it takes to scale – and Wamo has the right foundation to become the defining SME financial platform in Europe.”
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