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Nomo adds current account to SME fintech app

Nomo adds current account to SME fintech app

Nomo, the Banco Sabadell-backed fintech platform for the self-employed and SMEs, is adding a current account and virtual card to its offering.

The account, with a Spanish Iban, and virtual Mastercard card lets Nomo users receive and send transfers, pay bills, salaries and taxes by direct debit, make payments by mobile and withdraw cash at any ATM. All these operations are integrated automatically into users’ accounting and admin service.

Nomo already consolidates receipts and invoices, tots up expenses and sales, undertakes account aggregation and reconciles accounting against banking transactions. The app also analyses the quarterly net result of the sole trader and calculates in real-time the tax return payable at the end of the quarter. In addition, it offers an agent management service to file taxes, generate accounting books, as well as unlimited consultancy visits.

Conceived as a Banco Sabadell inhouse incubated startup, Nomo says that it quadrupled its paying customers in 2021 and now has a 25 person-strong team.

Xavier Capellades, CEO, Nomo, says: "The launch of the Nomo account and virtual Mastercard card completes the value chain that Nomo offers SMEs and the self-employed. We offer them a pioneering integrated digital solution to meet their needs that further streamlines the daily and financial management of their business and allows them to optimise resources, to save time, effort and money and to focus on growing their business."

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