What wamo does

wamo (Wamo Solutions Oy, Helsinki) is an EMI-licensed digital business account provider founded in 2018, serving European SMEs, self-employed professionals and cross-border operators. The platform combines a multi-currency business account (EU IBAN, 22 currencies, sub-accounts in EUR/GBP/USD/DKK/SEK) with SEPA/SWIFT payments, instant virtual and physical Visa debit cards, bulk payments, invoicing, expense management with team-level controls, and a 0% commission POS terminal line. It is regulated by the Finnish Financial Supervisory Authority (FIN-FSA) as an Electronic Money Institution (registration 3368055-9), with EU card issuance conducted via Modulr Finance B.V. and a Visa Europe Ltd licence, and PSD2-compliant Open Banking APIs exposed through Salt Edge (Priora).

The integrated stack is built on regulated EU payment and card-scheme rails (SEPA, SWIFT, Visa) with native accounting sync to Xero and an embedded SME lending product distributed in partnership with Swedish credit institution Froda AB. Customer acquisition blends product-led self-serve onboarding (~10 minutes, most approvals within 24 hours) with a formal affiliate Partner Program, in-app referrals and consultant-led inside sales for mid-market accounts; wamo also operates distribution and promotional entities in London (parent, Wamo Technology Limited) and St. Julian's, Malta (wamo Solutions Ltd).

Monetisation is hybrid: tiered subscriptions for sole traders (€0–€20/month) and companies (€0–€99/month, with ~20% annual discount) form the base, supplemented by usage-based per-transfer, ATM, SWIFT, dormancy and additional-card fees, FX margin across 22 currencies, card-interchange-funded cashback (up to 1%), and partner-originated lending interest via Froda targeting €100 million in volume. As of April 2026 wamo reported 15,000+ customers across the EEA and UK, a tripling of its customer base in the prior 12 months, and 15x growth in Italy since 2025, supported by a €10 million Series A led by 3TS Capital Partners.

Name

wamo

Legal name

Wamo Solutions Oy

Website

https://wamo.io

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

wamo is an EMI-licensed (FIN-FSA) digital business account for European SMEs and self-employed professionals, offering multi-currency accounts, Visa debit cards, POS, bulk payments, invoicing and embedded lending across the EEA and UK.

Ownership category

akta.pro rank

Product category

Digital Business Banking (SME)

akta.pro primary industry

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)

Keywords

• Digital business banking
• Multi-currency business accounts
• Cross-border SME payments
• Business debit cards
• Embedded SME lending

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Subscription plans (Freemium, Smart, Pro for sole traders; Free, Start, Grow, Scale for companies): Recurring monthly SaaS-style subscription fees on wamo business accounts, tiered by features (cards, transfers, POS volume, users), with a 20% discount on annual billing and a freemium entry tier (€0/month). Pricing ranges from €0 to €99/month for companies and €0 to €20/month for sole traders.
2. Per-transaction and usage-based fees: Usage-based charges on top of subscriptions: €0.49–€0.99 per local transfer beyond plan allowance, 1.99% per ATM withdrawal, €0.99 per additional virtual card, €9.99 per additional physical card, €19.99–€29.99 per outbound SWIFT, €25 per transaction recall, and dormant account fee of €99/year.
3. FX conversion margin: Margin on currency conversion across 22 currencies (with sub-accounts held in EUR, GBP, USD, DKK, SEK), priced with a small markup versus mid-market and competitive spot rates.
4. Card spend cashback incentives: Up to 1% cashback paid on eligible card spend (0.25–1% depending on plan), funded by interchange and treated as a customer-acquisition/retention lever on the card-issued revenue stream.
5. Lending interest and fees (via Froda): Embedded SME business credit originated through partner Froda AB (Swedish credit institution), generating interest income, amortisation and fees; targeted €100 million in lending volume over the next 12 months starting Italy in Q2 2026.
6. Affiliate / partner referral commissions (paid by wamo): Net acquirer of partner referrals rather than generator; the program is a customer acquisition channel with payouts to affiliates of up to ~€270 per active referred business over a 3-month period.
7. In-app referral rewards: Customer-to-customer referral rewards paid as cash credit to the main balance of the referrer's wamo account when invitees complete onboarding and card purchase milestones; designed as a growth lever rather than core revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

wamo provides a pan-European digital business account for SMEs and self-employed professionals, issued by Wamo Solutions Oy under a FIN-FSA Electronic Money Institution licence. The account comes with an EU IBAN, sub-accounts in EUR, GBP, USD, DKK and SEK, support for transacting in 22 currencies, and bundles Visa debit cards, SEPA/SWIFT payments, bulk payouts, in-app invoicing, expense management, and an integrated POS terminal line. A separate embedded business-credit product is distributed in partnership with Froda AB.

Product overview

wamo offers a single unified digital business account platform for European SMEs, self-employed professionals and cross-border operators, under which several integrated modules are offered. The core wamo Business Account (issued by Wamo Solutions Oy under a FIN-FSA EMI licence) provides an EU IBAN, sub-accounts and 22-currency support; layered on top are the wamo Visa Debit Card (physical/virtual), Multi-Currency Accounts, Currency Exchange, Payments (SEPA & SWIFT), Bulk Payments, Invoicing, the wamo POS terminal line, and Expense Management/Teams. Adjacent offerings include Credit (Froda) business loans (embedded via Froda AB), wamo Connect (partner perks), and the wamo Partner Program affiliate channel. The platform exposes Open Banking UK API and PSD2 EU API through Salt Edge, and integrates natively with Xero for accounting. The platform targets companies, sole traders, freelancers, and start-ups/scale-ups across the EEA and UK.

Differentiator

Problem solved

Functional benefit

Brands

• wamo Connect: An ecosystem of partner deals and perks for wamo business account holders.

Products and services

• wamo Business Account Electronic money business account for European SMEs and self-employed professionals, issued by Wamo Solutions Oy under FIN-FSA EMI authorisation, with EU IBAN, multi-currency sub-accounts in EUR, GBP, USD, DKK and SEK, support for transacting in 22 currencies, integrated cards, payments, POS, invoicing, bulk payouts and expense management.
• wamo Visa Debit Card
• wamo POS Terminal (Mobile S1F2 & Mobile AMS1) Integrated POS terminal hardware line for SMEs (Mobile S1F2 with quad-core Android 10 and built-in printer; Mobile AMS1 multifunctional terminal with long battery life) that accepts cards and digital wallets, with transactions automatically matched to wamo sub-accounts and next-day settlement. Distributed via wamo Solutions Ltd (Malta) as part of the 0% commission promotional campaign to 31/12/2026.
• Credit (Froda) Business Loans Embedded business credit product distributed by wamo and underwritten by Froda AB, providing eligible SME customers with business loans (with amortisation, late-payment interest and SEPA-based repayment) directly accessible through the wamo platform.
• Open Banking UK API & PSD2 EU API PSD2-compliant Open Banking APIs (UK and EU) provided via Salt Edge Priora, enabling authorised third-party providers (AISPs/PISPs) to access wamo client account information and initiate payments with client consent, with sandbox documentation available for developer integration.

Quantifiable outcome

• More than €2.5 billion in transactions processed since 2018
• +5 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability4 records

Feature8 records

Partnerships

Twelve partnerships are on record, tiered flagship, core and minor.

• Froda ABflagshipStrategic or Co-development Partner · 5 December 2024Embedded SME lending partner under wamo's 'Credit (Froda)' product. Froda AB is a Swedish credit institution supervised by the Swedish Financial Supervisory Authority, providing business loans to wamo customers with wamo acting as 'Partner'. Terms were last updated 5 December 2024, supporting wamo's plan to launch lending across Europe starting with Italy in Q2 2026 targeting €100M in lending volume.
• Banking CirclecoreTechnology or Integration · 19 July 2024Banking Circle logo displayed on wamo homepage partner block, indicating a payments/banking integration supporting wamo's cross-border payment and account infrastructure.
• Modulr (Modulr Finance B.V.)coreTechnology or Integration · 19 September 2023Card issuance and payments infrastructure partner. EU card issuance is conducted by Modulr Finance B.V. ('Modulr EU') or procured by Modulr, providing the regulated rails that wamo uses to issue Visa debit cards. Earlier 2023 announcement explicitly confirmed integration with Modulr to enhance wamo's offering.
• Visa (Visa Europe Ltd)flagshipOEM/ Whitelabel/ Licensing PartnerStrategic card issuance and network partner: Visa cards are issued by wamo Solutions Oy pursuant to a licence from Visa Europe Ltd, with EU issuance also conducted by Modulr Finance B.V. Wamo also offers a 'wamo Visa Perks' programme giving cardholders discounts on AWS, HubSpot, Google Workspace, LinkedIn and other tools.
• Salt Edge (Priora)coreTechnology or IntegrationOpen Banking / PSD2 infrastructure partner powering wamo's UK and EU Open Banking APIs. wamo links its developer-facing API documentation to Salt Edge Priora sandboxes (wamo_uk_sandbox, wamo_eu_sandbox) for PSD2 account information and payment initiation services.
• XerocoreTechnology or IntegrationAccounting integration partner: native two-way sync between wamo and Xero for automatic transaction tagging, reconciliation and bookkeeping, positioned as 'Accounting that practically runs itself'.
• Amazon Web Services (AWS)minorGTM or Marketing PartnerPerks partner: wamo Visa debit card holders can save up to 10% on AWS cloud computing services via the wamo Visa Perks programme.
• HubSpotminorGTM or Marketing PartnerPerks and analytics partner — wamo Visa debit card holders get 20% off HubSpot's AI-powered customer platform; HubSpot is also used for marketing analytics per the cookie policy.
• LinkedIn (Premium)minorGTM or Marketing PartnerPerks partner — wamo Visa debit card holders get 2 months free of LinkedIn Premium to expand their network and grow their business.
• Google WorkspaceminorGTM or Marketing PartnerPerks partner — wamo Visa debit card holders get 25% off Google Workspace productivity and collaboration tools.
• Taksu DigitalminorGTM or Marketing PartnerPerks partner — wamo Visa debit card holders get a 25% discount on 3-month social media advertising packages via Taksu Digital (Meta/Visa Business Card offer).
• SaaS / community partners (Sarah L., Marco R., Elena M.)coreOthersNamed affiliate partners in the wamo Partner Program — Strategic Growth Consultants, Community Ambassadors and Marketing Agency Founders — earning recurring commissions by referring SMEs to wamo's business account. The program is structured around three personas: business advisors, community leaders and next-gen entrepreneurs.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Qonto: Paris-headquartered European SME neobank offering multi-currency business accounts, cards, expense management, invoicing and accounting integrations. Directly comparable product set and customer segment (SMEs / freelancers across France, Germany, Italy, Spain); the clear market leader wamo is competing against.
• Finom: Amsterdam-based SME neobank targeting freelancers, sole traders and SMEs across Europe with multi-currency accounts, cards, expense management and invoicing. Closely comparable segment, geography and product stack to wamo.
• Revolut Business: London-based Revolut's business account offering, including multi-currency accounts, cards, expense tools, payments and FX for SMEs and larger companies across the EEA. Same target customer, similar core product features, materially larger scale.
• Pleo: Copenhagen-headquartered SME spend-management platform with company cards, expense management, invoices and accounting integrations across Europe. Overlaps significantly with wamo on cards, expense and multi-user controls for European SMEs.
• Soldo: London-based European spend management platform providing prepaid cards, expense management and multi-user spending controls for SMEs and mid-market companies. Comparable on the cards + expense management wedge of wamo's offering.
• Holvi: Helsinki-based digital business banking account for self-employed and small businesses, offering EU IBAN, cards, invoicing and bookkeeping tools. Same Helsinki/Nordic roots and overlapping freelance/SME target market.
• Moss: Berlin-based SME spend and credit-card platform with expense management and embedded lending features for European companies. Comparable on cards, expense management and embedded credit distribution.
• Spendesk: Paris-based European spend management platform combining corporate cards, invoice processing, expense approvals and accounting integrations. Comparable on the expense-management + multi-user controls layer.

Broad incumbents

• N26 Business: Berlin-headquartered pan-European digital bank with a dedicated business account tier for SMEs and freelancers. Broader incumbent with consumer roots and a wider product portfolio than wamo.

Regional players

• Tide: UK-focused small business current account provider with cards, invoicing and accounting integrations. Comparable on SME business accounts and cards, but primarily UK-only, whereas wamo is EEA/EEA+UK.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/wamobusiness
• LinkedInlinkedin.com/company/wamobusiness

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds11 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about wamo