Nomo gets backing of €1.8 million from Banco Sabadell

Nomo, a Barcelona, Spain-based startup building a digital platform that integrates financial services and business management tools for freelancers, announced raising an investment round of 1.8 million euros ($2M) from Banco Sabadell.

The funding will be paid throughout the entire year of 2020.

Nomo, founded in 2018 by CEO Xavier Capellades as a project incubated in Santander's InnoCells, developed a digital platform for self-employed individuals that allows them to digitalise receipts and invoices, control expenses and sales. The app has 40,000 users and its clients digitized a total of 42,700 invoices worth 10.8 million euros in revenue and three million in expenses.