AI Accounting announcement 25-02-2025
Specific Time: February 25, 2025
On February 25th FINOM announced to the media the launch of AI Accounting with a waitlist in Germany. The news was picked up by Finextra, Fintech&Finance News, Financial IT and The Top Voices, as well as “Connecting the dots in Fintech” newsletter by Marcel van Oost, in the Fintech News section — allowing FINOM the claim of being first on the European market.
The AI Accounting system was also reviewed by Silicon Canals (leading European technology news media source) in their “AI Tool Of The Week” section.
Additionally, the announcement met interest in Italy with Azienda Banca, a key banking and financial publication. Given that this media usually does not publish product update announcements eagerly, especially when it’s not yet available on the Italian market, and instead focuses on chronicling technological, strategic and marketing innovation in the banking, insurance and financial sectors, this may be a signal to FINOM regarding which market to roll out to next.
FINOM Unveils Autonomous AI Accounting Agent to Revolutionize Financial Management for SMEs and Freelancers
New AI-powered Solution Addresses An Estimated €225B SME Financial Services Market as Survey Shows 85% of Freelancers Find Current Solutions Complex
AMSTERDAM, February 25, 2025 – FINOM, the European financial services platform for SMEs, today announced an autonomous AI agent that streamlines financial management and automates accounting workflows for freelancers and small businesses. The AI Accounting agent will first launch in Germany, Europe’s largest SME market, with plans to expand across the EU throughout 2025.
According to FINOM’s recent study, 58% of freelancers spend between €500-€3000 annually on accounting and bookkeeping services, while 85% find current solutions overly complex. The study also revealed that 70% of respondents require an all-in-one solution for their financial management needs.
«Today’s entrepreneurs face a stark choice between expensive, slow-to-respond tax advisors and basic self-service tools that don’t scale with their business needs,» said Ivo Dimitrov, Chief Venture Officer at FINOM. «Our AI Accounting agent bridges this gap with a proactive approach – automatically handling routine tasks, providing timely notifications, and seeking user confirmation only when necessary. This represents a fundamental shift from reactive to proactive financial management.»
The AI Accounting agent integrates with FINOM’s existing financial infrastructure and proactively manages financial workflows, automatically categorizes transactions, and provides timely notifications about tax obligations and deadlines, while ensuring users maintain control over final submissions.
«The deployment of autonomous AI agents marks a fundamental shift in how European entrepreneurs will manage their finances,» said Andrey Petrov, CEO and co-founder of FINOM. «By combining financial data with an AI agent that can operate independently, we’re making enterprise-grade financial management accessible to small businesses.»
This launch comes amid rapid growth in the AI agents market, projected to expand from $47.1 billion by 2030, according to MarketsandMarkets. The timing is particularly relevant as European SMEs face increasing pressure to digitize their operations, with the EU’s 2024 State of the Digital Decade report showing that SME digitalization is progressing at just 2.5% annually — half the rate required to meet EU targets. Meanwhile, the European accounting and auditing market size was estimated at €225.6B in 2024 by IBISWorld report.
Key Capabilities of the FINOM Accounting AI Agent:
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Smart bookkeeping record creation based on business type and transaction patterns
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Automated tax payment management through TaxWallet
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Real-time deadline tracking and compliance notifications
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Intelligent assistance with regional tax regulations
FINOM’s AI Accounting system will initially be free for beta users, with a planned tiered pricing structure following the testing period. German businesses can join the waitlist starting today, with the service scheduled to launch by Q2 2025.
Interested businesses can register at https://finom.co/en-de/accounting/.
About FINOM
FINOM is a digital financial services platform designed for the unique needs of entrepreneurs and SMEs across Europe, and an official Visa card partner. FINOM offers a comprehensive set of financial tools that enable business owners to quickly open an account and efficiently manage their finances. The platform simplifies online financial management, payments, invoicing, and expense tracking. Dedicated to supporting entrepreneurs’ growth and competitiveness, FINOM provides innovative financial solutions and holds an Electronic Money Institution (EMI) license operational across Europe. Headquartered in the Netherlands, the company has a strong presence with offices throughout Europe. To learn more about FINOM, visit https://finom.co.
