A power module (10) comprises at least one power semiconductor device (15a, 15b) with an electrical topcontact area (28b) on a top side; and a multi-layer circuit board (12) with multiple electrically conducting layers (16a, 16b, 18) which are separated by multiple electrically isolating layers (20), the electrically isolating layers (20) being laminated together with the electrically conducting layers (16a, 16b, 18); wherein the multi-layer circuit board (12) has at least one cavity (14), which is opened to a top side of the multi-layer circuit board (12), which cavity (14) reaches through at least two electrically conducting layers (16a, 16b, 18); wherein the power semiconductor device (15a, 15b) is attached with a bottom side to a bottom of the cavity (14); and wherein the power semiconductor device (15a, 15b) is electrically connected to a top side of the multi-layer circuit board (12) with a conducting member (26a, 26b) bonded to the top contact area (28b) and bonded to the top side of the multi-layer circuit board (12).