Finmo Launches Multi-Currency Business Account to Bridge Treasury and Global Payments

Finmo has launched a multi-currency Business Account, enabling SMEs to collect, hold, and move funds across 195 countries within its existing treasury operating system. By integrating licensed money movement directly into a visibility platform, the company addresses the fragmentation that often forces finance teams to juggle multiple banking providers and disconnected forecasting software to manage international cash.

What was announced

The Finmo Business Account is a multi-currency solution tailored for small and medium-sized enterprises (SMEs) that manage cross-border transactions. The product allows businesses to obtain local account details in their own name, facilitating the collection of funds in more than 45 different currencies. Once collected, users can hold more than 27 currencies and execute payments to more than 195 countries and territories. This functionality is delivered directly through Finmo’s own licenses and its established network of payment partners.

The account is designed to work as a module within the broader Finmo Treasury platform. For existing treasury users, this means the ability to view a consolidated cash position across all entities and external bank accounts alongside a 13-week cash flow forecast. When the platform identifies idle cash or a funding gap, finance teams can now act immediately by moving funds or converting currency in real time without switching to a different banking interface. Finmo is the licensed provider behind the account, ensuring the infrastructure does not run on another company's platform.

Key features of the Business Account include:

• Local Collection: Account details in the company's name to allow customers to pay in their local currency.
• Flexible Conversion: No forced conversion, allowing businesses to hold funds until they choose to convert.
• Transparency: Fees and exchange rates are displayed prior to any conversion or payout.
• Payment Tools: Support for bulk payouts, bill payments, and scheduled transfers.
• Integration: Automatic synchronization with leading ERP and accounting software.
• Cash Management: Access to money market funds for putting surplus cash to work.

The platform also features MO AI, an integrated artificial intelligence agent designed to assist with strategy management and execution continuity. Finmo currently holds 11 licenses and regulatory permissions across eight markets, including a Major Payment Institution license from the Monetary Authority of Singapore. For Singapore-based businesses, the application process is streamlined through MyInfo Business using Corppass and Singpass. Currently, businesses move more than US$1 billion through Finmo every month.

"Because Finmo holds the licences and partnerships to move money itself, the Business Account closes that gap. A company can see its position and act on it in one place, on infrastructure we operate."

David Hanna, Co-Founder and CEO of Finmo

The companies involved

Finmo is a treasury operating system provider that focuses on providing global businesses with a unified platform for cash management. The company distinguishes itself by operating its own licensed infrastructure rather than relying on third-party banking-as-a-service wrappers. This regulatory foundation allows Finmo to maintain end-to-end control over the payment lifecycle, from collection to final payout. The firm has established a significant regulatory footprint in eight distinct markets to support its global operations.

The fintech operates within a competitive landscape supported by prominent venture capital firms and financial institutions. Notable entities in this ecosystem include Citi Ventures, the venture capital arm of the global financial services giant Citi, and PayPal Ventures. Other key players include Quona Capital, a venture firm that focuses on financial technology innovation. Finmo’s approach of combining treasury software with direct money movement capabilities positions it as a specialized player in the cross-border SME banking sector, moving beyond the traditional "software-only" model to provide a more integrated financial stack.

What this means

This launch signals a shift in the SME fintech market from pure-play "visibility" tools to "execution" platforms. By embedding licensed payment rails directly into a forecasting dashboard, Finmo is challenging the traditional banking model where software and settlement exist in separate silos. This puts pressure on legacy corporate banks to improve their digital interfaces or risk losing the transactional relationship with high-growth SMEs to more agile fintech providers. The move raises a critical question for the industry: as more treasury platforms secure their own licenses, will the role of the traditional bank be relegated to that of a back-end utility? For SMEs, the immediate benefit is the reduction of "dead" capital held in idle balances across multiple jurisdictions, a significant efficiency gain in a high-interest-rate environment.