Finom AI Accounting automates bookkeeping for entrepreneurs in the EU, offering AI-driven invoice recognition, expense categorization, and seamless tax report submissions to the tax authorities. Better. Faster. Cheaper.
I’m Ivo, Chief Venture Officer at Finom, and today I’m beyond excited to share something we’ve been working on for a while—Finom AI Accounting 🎉
Let’s be real, accounting sucks. - It’s time-consuming (hello, manual tax work). - Tax advisors? It's expensive as hell, and they love charging based on turnover, not revenue. - You’re stuck juggling a mess of fragmented tools to get things done.
Right now, businesses in Europe have two choices: 1️⃣ Hire a tax advisor (costly, unreliable, and not proactive). 2️⃣ Use self-submission tools (cheaper, but you need accounting knowledge + lots of manual work).
We saw a huge gap—so we built Finom AI Accounting to be: ✅ Cost-efficient ✅ Fully automated ✅ Reliable & proactive ✅ Always available
Under the hood, we’re not just plugging into GPT or Claude. We built a multi-agent system that dynamically switches roles, connects to your banking data, and uses various tools to do your accounting for you. Plus, all your personal data is encrypted—even from us.
We implemented both short and long memory that help our assistants to be consistent + a knowledge base for each customer, allowing hyper-personalization at scale. One day, I’ll write an article about the tech behind it.
We’ve got a long road ahead, but I’m incredibly proud of my team for making this happen.
Would love to hear your thoughts—ask me anything! 🙋♂️
We’re developing a set of criteria to calculate an efficiency score and provide tax optimization recommendations. Initially, it will cover simpler cases and common legal forms, but over time, we aim to offer a continuous stream of tailored recommendations to help users optimize their tax liabilities before filing. Are there any specific recommendations that you would like to see there?
Report
I tried the demo and the invoice recognition was impressively quick.
@jackson_wells speed is a big focus for us, and we’re constantly working to make invoice recognition even faster and more accurate. Tbh i don't think it is super fast now, but at least it has a great accuracy (99%). Appreciate the feedback! 💪
@samuel_kahlo Good point! At Finom, we take data privacy seriously and fully comply with GDPR. We do have a DPO (Data Protection Officer) and their team who are constantly working on this matter.
We do use encryption to protect data in transit and at rest, and as said in my first message, we even encrypt all the private data in our database, so if potentially it will be stolen, there's no private information to leak. We have pretty strict access controls and keep audit trails for transparency. And of course, we follow GDPR principles like data minimization and explicit consent to ensure security and compliance at every step.
As for the AI part, we’ve ensured compliance with the EU AI Act and clearly defined what AI can and can’t do.
Hope that answers your questions—happy to chat more if needed
Report
The blend of AI, tax reporting and expense tracking is perfectly suited for small business owners who prioritize efficiency.
Living in Switzerland - does Finom AI support Swiss accounting (bank statements, invoices etc.)? Recently worked with Zoho Books or Quicken but always ran into the issue of not properly supporting our Swiss banks (syncing with UBS for example).. hopefully Finom AI can help?
@fortiii hey 👋 Unfortunately, we don't currently support Swiss accounting, but you can use Finom for your invoices/transactions by connecting your bank through a multi-banking connection (PSD2).
Report
Exciting launch. How solopreneurs and freelancers handle their finances.
Are there plans to introduce financial health dashboards that display cash flow insights and profitability trends?
@jesus_porter good question, because the goal of any business is not to pay taxes but to make money and taxes is just one of the part in thier business. AI Accounting will be a part of bigger product which will cover the recommendations, insights and action plan for you. Stay tuned ...
CNVS
I’m Ivo, Chief Venture Officer at Finom, and today I’m beyond excited to share something we’ve been working on for a while—Finom AI Accounting 🎉
Let’s be real, accounting sucks.
- It’s time-consuming (hello, manual tax work).
- Tax advisors? It's expensive as hell, and they love charging based on turnover, not revenue.
- You’re stuck juggling a mess of fragmented tools to get things done.
Right now, businesses in Europe have two choices:
1️⃣ Hire a tax advisor (costly, unreliable, and not proactive).
2️⃣ Use self-submission tools (cheaper, but you need accounting knowledge + lots of manual work).
We saw a huge gap—so we built Finom AI Accounting to be:
✅ Cost-efficient
✅ Fully automated
✅ Reliable & proactive
✅ Always available
Under the hood, we’re not just plugging into GPT or Claude. We built a multi-agent system that dynamically switches roles, connects to your banking data, and uses various tools to do your accounting for you. Plus, all your personal data is encrypted—even from us.
We implemented both short and long memory that help our assistants to be consistent + a knowledge base for each customer, allowing hyper-personalization at scale. One day, I’ll write an article about the tech behind it.
We’ve got a long road ahead, but I’m incredibly proud of my team for making this happen.
Would love to hear your thoughts—ask me anything! 🙋♂️
CNVS
@masump hey 👋 and thanks for the question!
We’re developing a set of criteria to calculate an efficiency score and provide tax optimization recommendations. Initially, it will cover simpler cases and common legal forms, but over time, we aim to offer a continuous stream of tailored recommendations to help users optimize their tax liabilities before filing. Are there any specific recommendations that you would like to see there?
I tried the demo and the invoice recognition was impressively quick.
CNVS
@jackson_wells speed is a big focus for us, and we’re constantly working to make invoice recognition even faster and more accurate. Tbh i don't think it is super fast now, but at least it has a great accuracy (99%).
Appreciate the feedback! 💪
Great solution for all EU entrepreneurs 🔥
CNVS
@daria_rumyantseva1 Thank you 😊
Automation feature is fantastic how does Finom AI guarantee data privacy and compliance with GDPR?
Are there encryption measures or audit trails for sensitive transactions?
CNVS
@samuel_kahlo Good point! At Finom, we take data privacy seriously and fully comply with GDPR. We do have a DPO (Data Protection Officer) and their team who are constantly working on this matter.
We do use encryption to protect data in transit and at rest, and as said in my first message, we even encrypt all the private data in our database, so if potentially it will be stolen, there's no private information to leak. We have pretty strict access controls and keep audit trails for transparency. And of course, we follow GDPR principles like data minimization and explicit consent to ensure security and compliance at every step.
As for the AI part, we’ve ensured compliance with the EU AI Act and clearly defined what AI can and can’t do.
Hope that answers your questions—happy to chat more if needed
The blend of AI, tax reporting and expense tracking is perfectly suited for small business owners who prioritize efficiency.
CNVS
@matthew_flores1 glad to hear that you like it ☺️
Living in Switzerland - does Finom AI support Swiss accounting (bank statements, invoices etc.)? Recently worked with Zoho Books or Quicken but always ran into the issue of not properly supporting our Swiss banks (syncing with UBS for example).. hopefully Finom AI can help?
CNVS
@fortiii hey 👋
Unfortunately, we don't currently support Swiss accounting, but you can use Finom for your invoices/transactions by connecting your bank through a multi-banking connection (PSD2).
Exciting launch. How solopreneurs and freelancers handle their finances.
Are there plans to introduce financial health dashboards that display cash flow insights and profitability trends?
CNVS
@jesus_porter good question, because the goal of any business is not to pay taxes but to make money and taxes is just one of the part in thier business. AI Accounting will be a part of bigger product which will cover the recommendations, insights and action plan for you. Stay tuned ...