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.
The Danish fintech startup and Aion Bank announced their plan to expand their collaboration into new markets. Aion and its technology partner Vodeno will provide Moneyflow with various banking services in the countries it’s currently operating in Europe. These include providing access to local IBANs and payment schemes.
Small to medium-sized businesses can sell their invoice and revenue streams directly to ERP platforms such as Visma e-conomic, Dinero and Ordrestyring. By selling their invoices, SMEs can release cash without any risk of late payments.
Moneyflow is regulated by the Danish Financial Supervisory Authority.
Moneyflow is a fintech company whose CEO and founder Kim Ulf Rehfeld Thodén says, “We believe in a future where getting paid is easy. We put control of payers in the hands of receivers, not payers. The balance sheet support from Aion Bank is the largest single raise made available to a fintech of our nature in Scandinavia. This allows Moneyflow to accelerate and pursue an opportunity to tackle a large and growing market.
Kim Ulf Rehfeld Thodén is the founder and CEO of Moneyflow. He says, “We believe the world would be a better place if getting paid was easy. We want the receiver of funds to have control, not the payer. This desire led us to receive significant funding from Aion Bank in Scandinavia. This is the largest single fintech funding made available in Scandinavia. By receiving this funding, we’re able to accelerate our plans to tackle a much larger fintech opportunity.”
Aion Bank and Vodeno have partnered to transform the financial services sector. With the help of banking experts, the companies provide embedded financial services for banks, lenders and merchants in multiple industries. They also have an ECB banking license that allows them to cover the entire European market on a passport basis. Additionally, they use a cloud-native “360” platform ecosystem and platform.
Aion and Vodeno provide solutions that meet regulatory standards while also allowing for rapid innovation. Their solutions cover the entire banking system— including smart contract enabled core banking, accounts, payments, onboarding and cards. Additionally, Aion and Vodeno offer options for investment and lending.
Warburg Pincus LLC, a globa private equity firm, backs Aion Bank and Vodeno as separate companies.