Moneyflow, a Copenhagen-based embedded fintech startup, has raised €250M in debt financing from Belgian Banking-as-a-Service (BaaS) provider Aion Bank. The Danish tech will use the fund to accelerate the roll-out of its embedded finance services across platform partners in the Nordics and the rest of Europe.
Founded in 2018 by Danish entrepreneur Kim Ulf Rehfeld Thodén, Moneyflow provides SMEs with invoice funding and revenue funding within their existing workflow platform, allowing brands to grow. To accomplish this, the company claims to have created the market’s “most” advanced underwriting engine, complete with advanced risk and payment predictions.
Expansion plans
Aion Bank and the Danish fintech startup plan to expand their collaboration into new markets. Aion and its technology partner, Vodeno, will provide Moneyflow with a variety of banking services, including access to local IBANs and payment schemes in the countries where the bank is currently established in Europe.
Businesses can release cash from invoices and future revenues because there is no risk of late payments. SME invoices and revenue streams can be sold directly into ERP platforms such as Visma e-conomic, Dinero, and Ordrestyring.
The Danish Financial Supervisory Authority regulates Moneyflow.
“We believe in a future where getting paid is easy. Upfront, early, or just as agreed, we put the control in the hands of the receiver, not the payer,” says Kim Ulf Rehfeld Thodén, Moneyflow’s CEO and founder. “The balance sheet support from Aion Bank is the largest single raise amount made available to a fintech of our nature in Scandinavia. We are now ready to step on the accelerator to take on the large and expanding market opportunity.”
Kim Ulf Rehfeld Thodén, Moneyflow’s CEO and founder, says, “We believe in a future where getting paid is easy. Upfront, early, or just as agreed, we put the control in the hands of the receiver, not the payer. The balance sheet support from Aion Bank is the largest single raise amount made available to a fintech of our nature in Scandinavia. We are now ready to step on the accelerator to take on the large and expanding market opportunity.”
As business partners, Aion Bank and Vodeno are transforming the financial services sector. The companies provide embedded financial services for banks, lenders, and merchants across various industries with the help of banking experts, a cloud-native “360” platform ecosystem, and an ECB banking licence that can cover the entire EU market on a passport basis.
Aion and Vodeno can meet regulatory requirements while also enabling rapid innovation. Their solutions cover the entire banking ecosystem, including “smart contract enabled” core banking, accounts, onboarding, payments, cards, as well as investment and lending options.
Aion Bank and Vodeno are separate companies backed by Warburg Pincus LLC, a global private equity firm.
