Wamo: Digital Business Account Provider Raises $5M Funding
Wamo, a London-based provider of a digital business account for SMEs, recently raised $5M in funding with the support of backers including Logo Ventures, Finberg, and Re-Pie Asset Management. The company's goal is to use this capital injection to expand its team not only across the UK, but also within the EU. By doing so, the company hopes to deepen its local expertise within key markets and enhance its offerings to better serve its customers.
With Yanki Onen at the helm as CEO and Founder, wamo is positioning itself as a growth partner for SMEs looking for digital financial solutions.
The company offers a variety of integrated services, such as cross-border payments and physical and virtual cards. Wamo's future plans include further expanding these services to create a comprehensive suite of solutions tailored specifically for small and medium-sized enterprises. To facilitate its growth strategy, Wamo recently obtained an EU Electronic Money Institution (EMI) license from FIN-FSA (Finland's Financial Supervisory Authority), opening up new avenues for expansion and development within the European market.
Having successfully secured a total of $11.8m in funding since its inception, wamo is on a path of rapid growth and expansion. By leveraging its recent investments, the company is well-positioned to enhance its offerings and reach a wider customer base. With its sights set on both the UK and EU markets, wamo is poised to become a significant player in the digital financial services sector for SMEs, providing innovative solutions and comprehensive support to help businesses thrive.
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