Wamo secures £3.8m bridge to Series A funding from Logo Ventures and returning investors to accelerate European expansion.
Logo Ventures joined returning investors Finberg and Re-Pie Asset Management to back the digital business account provider.
Wamo provides digital business accounts and integrated financial services tailored for small and medium enterprises. The platform aims to streamline financial management and cross border payments for underserved companies.
Wamo has raised £3.8m in a bridge to Series A funding round to accelerate its expansion across Europe. The investment was led by new participant Logo Ventures, alongside returning backers Finberg and Re-Pie Asset Management.
The fresh capital coincides with the company securing an Electronic Money Institution license from the Finnish Financial Supervisory Authority. Wamo intends to direct the funds towards expanding its team and enhancing its financial products for small and medium businesses.
The company has experienced significant expansion recently, recording triple digit annual revenue growth and processing substantial transaction volumes since its inception.
From the founder
"Since launching wamo, we’ve been relentlessly focused on removing the barriers that SMEs face when opening a business account and managing their finances. The addition of Logo Ventures in this round brings strong expertise and experience to help us build a proposition that promotes, not discourages, the ambitions of underserved SMEs across Europe. Alongside this, our EMI license marks a significant milestone in our journey, enabling us to unlock new markets and become the preferred partner for SMEs, providing regulated services across the continent."
Yanki Onen
CEO at wamo
Investor perspective
"We first met Yanki in 2021 and have been closely following wamo’s progress over the years and are excited to support the team on their next chapter. wamo has a deep understanding of the needs of SMEs and is laser focused on driving real value by offering better and faster service for its customers."
Merve Zabci
Managing Partner, Logo Ventures
Use of funds
- 01Grow the team
- 02Continue product development