$FNVT
Finnovate Acquisition Corp Stock $fnvt

$fnvt Overview Financials Valuation SEC Filings Company Website

2024 Q2 Form 10-Q Financial Statement

#000149315224033076 Filed on August 19, 2024

Income Statement

Concept	2024 Q2
Revenue	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$455.8K
YoY Change	-15.6%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$455.8K
YoY Change	-15.6%
Operating Profit	-$455.8K
YoY Change	-16.2%
Interest Expense	$406.1K
YoY Change	-69.69%
% of Operating Profit
Other Income/Expense, Net	$406.1K
YoY Change	-69.74%
Pretax Income	-$49.62K
YoY Change	-106.2%
Income Tax
% Of Pretax Income
Net Earnings	-$49.62K
YoY Change	-106.22%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share	-$0.01
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept	2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$35.52K
YoY Change
Cash & Equivalents	$35.52K
Short-Term Investments
Other Short-Term Assets	$60.89K
YoY Change	-69.56%
Inventory
Prepaid Expenses	$60.89K
Receivables
Other Receivables
Total Short-Term Assets	$96.41K
YoY Change	-55.98%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles	$5.000M
YoY Change	0.0%
Long-Term Investments	$25.74M
YoY Change	-48.01%
Other Assets
YoY Change
Total Long-Term Assets	$25.74M
YoY Change	-47.97%
TOTAL ASSETS
Total Short-Term Assets	$96.41K
Total Long-Term Assets	$25.74M
Total Assets	$25.83M
YoY Change	-48.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.721M
YoY Change	72.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$1.450M
YoY Change	383.2%
Long-Term Debt Due	$974.2K
YoY Change
Total Short-Term Liabilities	$4.145M
YoY Change	202.75%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$4.145M
Total Long-Term Liabilities	$0.00
Total Liabilities	$4.145M
YoY Change	196.07%
SHAREHOLDERS EQUITY
Retained Earnings	-$4.049M
YoY Change	251.93%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$4.049M
YoY Change
Total Liabilities & Shareholders Equity	$25.83M
YoY Change	-48.01%

Cashflow Statement

Concept	2024 Q2
OPERATING ACTIVITIES
Net Income	-$49.62K
YoY Change	-106.22%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$234.3K
YoY Change	160.29%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities	$26.73M
YoY Change	-79.84%
Cash From Investing Activities	$26.73M
YoY Change	-79.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-26.47M
YoY Change	-80.04%
NET CHANGE
Cash From Operating Activities	-234.3K
Cash From Investing Activities	26.73M
Cash From Financing Activities	-26.47M
Net Change In Cash	30.09K
YoY Change	-133.43%
FREE CASH FLOW
Cash From Operating Activities	-$234.3K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2024Q2	us-gaap	Preferred Stock Value PreferredStockValue		usd
	dei	Document Period End Date DocumentPeriodEndDate	2024-06-30
	FNVT	Interest Earned On Bank Account InterestEarnedOnBankAccount	331	usd
	FNVT	Interest Earned On Bank Account InterestEarnedOnBankAccount	1671	usd
CY2024Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	406144	usd
CY2023Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1342192	usd
CY2024Q1	us-gaap	Stockholders Equity StockholdersEquity	-3417916	usd
CY2024Q2	FNVT	Remeasurement Of Class Redeemable Shares To Redemption Value RemeasurementOfClassRedeemableSharesToRedemptionValue	-405982	usd
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	-49619	usd
CY2024Q2	us-gaap	Stockholders Equity StockholdersEquity	-4048517	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	-455349	usd
	dei	Entity Central Index Key EntityCentralIndexKey	0001857855
CY2023Q4	FNVT	Promissory Note Payable PromissoryNotePayable		usd
CY2024Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023Q4	us-gaap	Preferred Stock Value PreferredStockValue		usd
CY2023Q4	us-gaap	Cash Cash	37	usd
CY2024Q2	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	60889	usd
CY2023Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	37389	usd
CY2024Q2	us-gaap	Assets Current AssetsCurrent	96412	usd
CY2023Q4	us-gaap	Assets Current AssetsCurrent	37426	usd
CY2024Q2	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	25736479	usd
CY2023Q4	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	51200344	usd
CY2024Q2	us-gaap	Assets Assets	25832891	usd
CY2023Q4	us-gaap	Assets Assets	51237770	usd
CY2024Q2	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	1721119	usd
CY2023Q4	us-gaap	Accounts Payable And Other Accrued Liabilities Current AccountsPayableAndOtherAccruedLiabilitiesCurrent	1435205	usd
CY2024Q2	FNVT	Working Capital Loan Related Party Current WorkingCapitalLoanRelatedPartyCurrent	974210	usd
CY2023Q4	FNVT	Working Capital Loan Related Party Current WorkingCapitalLoanRelatedPartyCurrent	542503	usd
CY2024Q2	FNVT	Promissory Note Payable PromissoryNotePayable	200000	usd
CY2024Q2	FNVT	Promissory Note Payable Related Party PromissoryNotePayableRelatedParty	1175000	usd
CY2023Q4	FNVT	Promissory Note Payable Related Party PromissoryNotePayableRelatedParty	800000	usd
CY2023Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	56600	usd
CY2024Q2	us-gaap	Liabilities Current LiabilitiesCurrent	4144929	usd
CY2023Q4	us-gaap	Liabilities Current LiabilitiesCurrent	2834308	usd
CY2024Q2	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	25736479	usd
CY2023Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	51200344	usd
CY2024Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2024Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2024Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2024Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2024Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-4048963	usd
CY2023Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-2797328	usd
CY2024Q2	us-gaap	Stockholders Equity StockholdersEquity	-4048517	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	-2796882	usd
CY2024Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	25832891	usd
CY2023Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	51237770	usd
CY2024Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	455763	usd
CY2023Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	543867	usd
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	00-0000000
CY2023Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		usd
CY2023Q2	us-gaap	Stock Issued During Period Value Conversion Of Convertible Securities StockIssuedDuringPeriodValueConversionOfConvertibleSecurities		usd
	FNVT	Proceeds From Extension Contribution ProceedsFromExtensionContribution		usd
	FNVT	Proceeds From Promissory Note ProceedsFromPromissoryNote		usd
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable		usd
	FNVT	Proceeds From Promissory Note Related Party ProceedsFromPromissoryNoteRelatedParty		usd
	FNVT	Promissory Note Forgiveness PromissoryNoteForgiveness		usd
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2024
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-41012
	dei	Entity Registrant Name EntityRegistrantName	FINNOVATE ACQUISITION CORP.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	E9
	dei	Entity Address Address Line1 EntityAddressAddressLine1	265 Franklin Street
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Suite 1702
	dei	Entity Address City Or Town EntityAddressCityOrTown	Boston
	dei	Entity Address State Or Province EntityAddressStateOrProvince	MA
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	02110
	dei	City Area Code CityAreaCode	+1 424
	dei	Local Phone Number LocalPhoneNumber	253-0908
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	true
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
	dei	Entity Shell Company EntityShellCompany	true
CY2024Q2	us-gaap	Cash Cash	35523	usd
CY2024Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	74600	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	776966	usd
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	846131	usd
CY2024Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-455763	usd
CY2023Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-543867	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-776966	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-846131	usd
CY2024Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	405982	usd
CY2023Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	1341938	usd
	us-gaap	Investment Income Interest InvestmentIncomeInterest	969111	usd
	us-gaap	Investment Income Interest InvestmentIncomeInterest	3250819	usd
CY2024Q2	FNVT	Interest Earned On Bank Account InterestEarnedOnBankAccount	162	usd
CY2023Q2	FNVT	Interest Earned On Bank Account InterestEarnedOnBankAccount	254	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	969442	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	3252490	usd
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	-49619	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	798325	usd
	us-gaap	Net Income Loss NetIncomeLoss	192476	usd
	us-gaap	Net Income Loss NetIncomeLoss	2406359	usd
CY2023Q4	us-gaap	Stockholders Equity StockholdersEquity	-2796882	usd
CY2024Q1	FNVT	Remeasurement Of Class Redeemable Shares To Redemption Value RemeasurementOfClassRedeemableSharesToRedemptionValue	-563129	usd
CY2024Q1	FNVT	Stock Issued During Period Value Extension Contribution StockIssuedDuringPeriodValueExtensionContribution	-300000	usd
CY2024Q1	us-gaap	Net Income Loss NetIncomeLoss	242095	usd
CY2024Q2	FNVT	Stock Issued During Period Value Extension Contribution StockIssuedDuringPeriodValueExtensionContribution	-175000	usd
CY2023Q1	FNVT	Remeasurement Of Class Redeemable Shares To Redemption Value RemeasurementOfClassRedeemableSharesToRedemptionValue	-1908881	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	1608034	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-756196	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-756196	usd
CY2023Q2	FNVT	Stock Issued During Period Value Promissory Note Forgiveness StockIssuedDuringPeriodValuePromissoryNoteForgiveness	449765	usd
CY2023Q2	FNVT	Remeasurement Of Class Redeemable Shares To Redemption Value RemeasurementOfClassRedeemableSharesToRedemptionValue	-1341938	usd
CY2023Q2	FNVT	Stock Issued During Period Value Extension Contribution StockIssuedDuringPeriodValueExtensionContribution	-300000	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	798325	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	798325	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	-1150044	usd
CY2023Q2	us-gaap	Stockholders Equity StockholdersEquity	-1150044	usd
	us-gaap	Net Income Loss NetIncomeLoss	192476	usd
	us-gaap	Net Income Loss NetIncomeLoss	2406359	usd
	us-gaap	Investment Income Interest InvestmentIncomeInterest	969111	usd
	us-gaap	Investment Income Interest InvestmentIncomeInterest	3250819	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	23500	usd
	us-gaap	Increase Decrease In Prepaid Expense IncreaseDecreaseInPrepaidExpense	-95557	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	285914	usd
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	501808	usd
	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	18000	usd
	us-gaap	Increase Decrease In Due To Related Parties Current IncreaseDecreaseInDueToRelatedPartiesCurrent	3000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-496221	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-244095	usd
	us-gaap	Proceeds From Sale Maturity And Collections Of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments	26907976	usd
	us-gaap	Proceeds From Sale Maturity And Collections Of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments	132616922	usd
	FNVT	Proceeds From Extension Contribution ProceedsFromExtensionContribution	475000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	26432976	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	132616922	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	26907976	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	132616922	usd
	FNVT	Proceeds From Promissory Note ProceedsFromPromissoryNote	431707	usd
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	200000	usd
	FNVT	Proceeds From Promissory Note Related Party ProceedsFromPromissoryNoteRelatedParty	375000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-25901269	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-132616922	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	35486	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-244095	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	37	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	244179	usd
CY2024Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	35523	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	84	usd
	FNVT	Remeasurement Of Class Redeemables Shares To Redemption Value RemeasurementOfClassRedeemablesSharesToRedemptionValue	969111	usd
	FNVT	Remeasurement Of Class Redeemables Shares To Redemption Value RemeasurementOfClassRedeemablesSharesToRedemptionValue	3250819	usd
	FNVT	Promissory Note Forgiveness PromissoryNoteForgiveness	449765	usd
CY2021Q4	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	172500000	usd
CY2021Q4	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	175950000	usd
CY2021Q4	us-gaap	Shares Issued Price Per Share SharesIssuedPricePerShare	10.20
	FNVT	Fair Value Of Target Business Rate FairValueOfTargetBusinessRate	0.80	pure
CY2024Q2	FNVT	Percentage Of Voting Interests Acquired PercentageOfVotingInterestsAcquired	0.50	pure
CY2024Q2	us-gaap	Share Price SharePrice	11.45
CY2024Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	5000001	usd
	us-gaap	Debt Instrument Redemption Price Percentage DebtInstrumentRedemptionPricePercentage	0.15	pure
	us-gaap	Business Combination Separately Recognized Transactions Expenses And Losses Recognized BusinessCombinationSeparatelyRecognizedTransactionsExpensesAndLossesRecognized	100000	usd
CY2024Q2	us-gaap	Sale Of Stock Price Per Share SaleOfStockPricePerShare	10.20
CY2024Q2	us-gaap	Cash Cash	35523	usd
CY2024Q2	FNVT	Working Capital WorkingCapital	-4048517	usd
CY2024Q2	us-gaap	Loans Payable LoansPayable	0	usd
CY2023Q4	us-gaap	Loans Payable LoansPayable	0	usd
CY2023Q2	us-gaap	Sponsor Fees SponsorFees	100000	usd
CY2024Q2	FNVT	Extension Note Payable Related Party ExtensionNotePayableRelatedParty	1100000	usd
CY2023Q4	FNVT	Extension Note Payable Related Party ExtensionNotePayableRelatedParty	800000	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_847_eus-gaap--UseOfEstimates_zTk5YQpmv72h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zFl7cOmbkVO4">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires the Company’s Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Making estimates requires Management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the accompanying unaudited condensed financial statements, which Management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2	us-gaap	Cash Cash	35523	usd
CY2023Q4	us-gaap	Cash Cash	37	usd
CY2024Q2	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	25736479	usd
CY2023Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	51200344	usd
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zeJjgmGsnQKh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86F_zypevpxDezY5">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_c20240630_zr68GGHf56nd" title="Cash FDIC insured amount">250,000</span>. As of June 30, 2024, the Company has not experienced losses on this account, and Management believes the Company is not exposed to significant risks on such account.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2	us-gaap	Cash Fdic Insured Amount CashFDICInsuredAmount	250000	usd
CY2021Q4	us-gaap	Deferred Offering Costs DeferredOfferingCosts	4171912	usd
CY2021Q4	us-gaap	Payments For Underwriting Expense PaymentsForUnderwritingExpense	3450000	usd
CY2021Q4	us-gaap	Operating Costs And Expenses OperatingCostsAndExpenses	721912	usd
CY2023Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	51200344	usd
CY2022Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	178531059	usd
	FNVT	Remeasurement Of Class Redeemables Shares To Redemption Values RemeasurementOfClassRedeemablesSharesToRedemptionValues	969111	usd
CY2023	FNVT	Remeasurement Of Class Redeemables Shares To Redemption Values RemeasurementOfClassRedeemablesSharesToRedemptionValues	4486207	usd
	FNVT	Extension Contribution ExtensionContribution	475000	usd
CY2023	FNVT	Extension Contribution ExtensionContribution	800000	usd
	FNVT	Redemptions Redemptions	-26907976	usd
CY2023	FNVT	Redemptions Redemptions	-132616922	usd
CY2024Q2	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	25736479	usd
CY2023Q4	us-gaap	Temporary Equity Carrying Amount Attributable To Parent TemporaryEquityCarryingAmountAttributableToParent	51200344	usd
CY2024Q2	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2023Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	usd
CY2024Q2	us-gaap	Income Tax Examination Penalties And Interest Accrued IncomeTaxExaminationPenaltiesAndInterestAccrued	0	usd
CY2023Q4	us-gaap	Income Tax Examination Penalties And Interest Accrued IncomeTaxExaminationPenaltiesAndInterestAccrued	0	usd
CY2021Q4	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	172500000	usd
CY2021Q4	us-gaap	Assets Held In Trust Noncurrent AssetsHeldInTrustNoncurrent	175950000	usd
CY2021Q4	us-gaap	Shares Issued Price Per Share SharesIssuedPricePerShare	10.20
CY2021Q1	FNVT	Percentage Of Issued And Outstanding Shares PercentageOfIssuedAndOutstandingShares	0.20	pure
CY2024Q2	FNVT	Cash Fee Percentage CashFeePercentage	0.0175	pure
	us-gaap	Professional Fees ProfessionalFees	3018750	usd
	FNVT	Payment For Legal Agreement PaymentForLegalAgreement	20000	usd
	FNVT	Contractual Milestones ContractualMilestones	90000	usd
CY2024Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2024Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2024Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2024Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2024Q2	ecd	Rule10b51 Arr Adopted Flag Rule10b51ArrAdoptedFlag	false
CY2024Q2	ecd	Non Rule10b51 Arr Adopted Flag NonRule10b51ArrAdoptedFlag	false
CY2024Q2	ecd	Rule10b51 Arr Trmntd Flag Rule10b51ArrTrmntdFlag	false
CY2024Q2	ecd	Non Rule10b51 Arr Trmntd Flag NonRule10b51ArrTrmntdFlag	false

Files In Submission

Name	View Source	Status
0001493152-24-033076-index-headers.html	Edgar Link	pending
0001493152-24-033076-index.html	Edgar Link	pending
0001493152-24-033076.txt	Edgar Link	pending
0001493152-24-033076-xbrl.zip	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
ex32-2.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
fnvt-20240630.xsd	Edgar Link	pending
form10-q.htm	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
R31.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
fnvt-20240630_cal.xml	Edgar Link	unprocessable
fnvt-20240630_def.xml	Edgar Link	unprocessable
fnvt-20240630_lab.xml	Edgar Link	unprocessable
fnvt-20240630_pre.xml	Edgar Link	unprocessable
form10-q_htm.xml	Edgar Link	completed

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$FNVT
Finnovate Acquisition Corp Stock $fnvt

2024 Q2 Form 10-Q Financial Statement

#000149315224033076 Filed on August 19, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$FNVT Finnovate Acquisition Corp Stock $fnvt

2024 Q2 Form 10-Q Financial Statement

#000149315224033076 Filed on August 19, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$FNVT
Finnovate Acquisition Corp Stock $fnvt