Wamo, a SME financial operating platform, has raised £8.6 million in Series A funding led by TCEE Fund IV, advised by 3TS Capital Partners, with participation from Oleka Capital and existing investors. The funding will support expansion in Italy and the Nordics, enhancement of product capabilities, and the rollout of AI-driven tools across its business account platform.
The platform provides a multi-currency business account used by over 15,000 customers across Europe, alongside cards, invoicing, expense management and embedded financial tools within a unified platform designed for SMEs. Adoption has tripled in the last 12 months, with strong uptake in Southern Europe and the Nordics, and Italy emerging as a key growth market.
As access to financing remains a structural challenge for European SMEs, Wamo integrates lending into its platform using real-time banking, payments and operational data to enable faster underwriting. Following the launch of its business loan service in Finland, it plans to expand lending across Europe in Q2 2026 through partnerships, targeting €100 million in lending volume over the next 12 months.
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.
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.
SME banking in Europe remains underserved and fragmented. Wamo's approach - combining intelligent automation with a relentless focus on customer experience -positions them to capture significant market share. We've been impressed by their execution in Italy and Finland, and we're confident in their ability to scale across multiple markets simultaneously.
