Solarisbank to provide customers with Italian IBANs and Visa debit cards 

● Business accounts offer cashback of up to 3%, the highest rate in Italy 

● FINOM’s 15,000 customers in Italy are now eligible for the new business accounts ● Accounts will help self-employed and sole traders to meet new regulatory requirements  

FINOM, a fintech company focused on empowering small firms, freelancers and  entrepreneurs across Europe, has launched an innovative new business account in Italy, which  combines banking, e-invoicing, and finance management services on a single platform. European bank  Solarisbank is facilitating the fintech firm’s product expansion in Italy, by offering local IBANs to  customers, and they will issue the account’s Visa debit cards. 

Italy is FINOM’s third largest European market, behind France and Germany, where it has 15,000  customers. Through this partnership, the Amsterdam headquartered fintech will now be able to offer  its all-in-one finance management, e-invoicing, and banking platform to both existing and new Italian  customers. The new business accounts will also support Italy’s flat tax rate paying self-employed, sole  traders and freelancers as they transition to e-invoicing, a legal requirement in the country from July  2022. 

FINOM, founded in 2019, raised €16.8 million in funding from leading global investors in 2020,  including Target Global, General Catalyst, Avala Capital, Cognito Capital Partners, and Entree Capital. 

Antonio la Mura, Head of FINOM in Italy:

“We are the only company in Italy to offer banking and e-invoicing services via a single platform. Today we are doubling our efforts in the country to better  serve the needs of sole traders, entrepreneurs and freelancers who are the backbone of the national  economy but remain poorly served by the traditional banks. Our Italian customer base is growing fast, and we intend to launch banking services integrated with  our platform’s other financial management tools, for all SMEs by the end of 2022. Finance  management should not need to be a major pain point so it’s our mission to streamline payments, e invoicing, banking reconciliation, and expense categorisation to bring much greater efficiency to SMEs,  sole traders and freelancers, which are a huge part of the Italian business and jobs ecosystem.” 

Federico Roesler Franz, General Manager of  Solarisbank Italy:

“We see enormous potential in the digitisation of the Italian financial market, especially when it comes  to innovation based on Open Banking and banking-as-a-Service. FINOM is using the breadth of  Solarisbank’s banking-as-a-service platform to provide its customers with a cutting-edge digital  offering, tailored to their specific needs. We are extremely proud that FINOM has chosen us for their  international expansion to offer Italian IBANs"  

Luca Moroni, Head of Visa Business Solutions Southern Europe:

“Italy is dominated by micro-businesses, with 4.5 million freelancers, accounting for 25% of the total  workforce. Micro-businesses  play a vital role in the economic recovery of Europe and their ability to embrace and integrate digital  technologies is critical. Visa has launched a series of initiatives to support the digitization of the 8  million businesses across Europe. Business cards are an easy and safe tool to digitise processes,  simplifying reconciliation and VAT recovery.”