Moneyflow raises EUR 250 mln

Thursday 1 September 2022 14:44 CET | News

Moneyflow, a Denmark-based fintech, has raised EUR 250 million in asset-backed debt funding from Aion Bank, to fuel the growth of its platform.

Founded four years ago, Moneyflow is an FSA approved Danish fintech company providing funding solutions for businesses through embedded finance. Through smart and integrated financial tools, Moneyflow helps businesses get paid the moment they send their invoice, in order to create an easy way for small and medium enterprises (SME) to access and provide liquidity for other SME's.

As mentioned in the official press release, the capital from Aion Bank is the largest amount that has been made available in Scandinavia at one time for a company of this nature.

Over the past 12 months, the company has purchased invoices for USD 53.7 million – made available by major Danish banks, but with the new funding from Aion Bank, it is now possible to pick up the pace.

In exchange for the capital, Aion Bank will get a third of Moneyflow’s earnings, as they fuel the growth of many SMEs in the Nordics and eventually broader Europe.

More about Moneyflow

Moneyflow is in partnership with different big companies providing accounting solutions to SMEs, such as Visma e-conomic, Dinero, and Ordrestyring, all of whom will benefit even greater from this funding.

Moneyflow, a Denmark-based fintech, has raised EUR 250 million in asset-backed debt funding from Aion Bank, to fuel the growth of its platform.

Aion Bank and Vodeno work together as business partners to transform the financial services sector. 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, the companies provide embedded financial services for banks, lenders, and merchants across various industries.

The Danish fintech startup and Aion Bank also intend to extend their cooperation into additional markets. Aion and its technology partner, Vodeno, will provide a number of banking services to Moneyflow, including access to local IBANs and local payment schemes where the Bank is currently established in Europe.

Embedded finance – the new wave in digital financing

As Deb Bardhan, Chief Business Officer for Highnote, explains in a recent article, the opportunities to distribute financial products and services through non-finance companies and products have exploded in the last decade thanks to the digitisation of every aspect of our lives.

Embedded finance enables non-financial brands, ranging from retailers to sports clubs, to integrate financial products and services into their own offerings. This means that they can offer products such as current accounts, credit cards or loans, and tailor them to become a more natural part of their customers’ experiences. Historically, these products required extensive and costly infrastructure, which is why they were only available through established banks.

While fintechs were among the first ones to explore embedded finance, followed by the tech giants, the next phase is driven by consumer brands that are on a mission to increase engagement and loyalty. The day-to-day use of financial services products offers an attractive way to achieve this. In this sense, brands are starting to realise that embedded finance represents a great opportunity to get closer to their customers before and create a trustworthy relationship.

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Keywords: funding, fintech, banks, embedded finance, SMEs
Categories: Banking & Fintech
Companies: Aion Bank, Moneyflow
Countries: Denmark
This article is part of category

Banking & Fintech

Aion Bank



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