NoCFO has partnered with Salt Edge to integrate payment initiation capabilities into its financial management platform, allowing entrepreneurs in Finland and Germany to complete invoice payments directly within the application.
The integration incorporates Salt Edge's Pay by Bank functionality directly into NoCFO's platform, transforming the user experience by enabling complete financial workflows, including invoice approval and payment execution, within a single interface.
NoCFO launched in 2023, serving founder-led companies and small business owners managing their own finances without dedicated finance teams. The platform provides automation-first financial administration, combining bookkeeping, cash flow tracking, and payment processing.
Payment initiation eliminates platform switching
Through Salt Edge's Pay by Bank solution, NoCFO users can approve and pay invoices directly within the application without switching between platforms or logging into banking interfaces. The integration complements NoCFO's swipe-to-approve interface, enabling users to complete transactions with consumer-app simplicity.
Teemu Karuluoto, CEO and Co-founder at NoCFO, stated the company's vision has always focused on building a platform where entrepreneurs manage their entire financial life without constant context switching between applications. With Salt Edge's payment initiation, users can approve and pay invoices, track cash flow, and handle bookkeeping in one place.
The partnership enables NoCFO's strategic expansion. Currently serving close to 3,000 active customers in Finland, NoCFO plans to expand into the German market in 2026. Salt Edge's PSD2 coverage across 2,700-plus European institutions, particularly in Finland and Germany, was critical in the selection, ensuring compliance and functionality in both key markets.
Virgiliu Bodrug, Pay by Bank Expert at Salt Edge, stated the collaboration exemplifies the capabilities of Open Banking to deliver tangible value and simplicity to small businesses. By embedding the Pay by Bank solution, NoCFO closes the loop on financial administration processes, allowing entrepreneurs to stay within their core platform, maximise automation, and improve efficiency. Salt Edge supports NoCFO's growth and upcoming German expansion.
Market positioning in SME financial management
NoCFO competes with small business financial management platforms, including Payhawk, Pleo, and Moss, in European markets. These providers offer expense management, invoice processing, and accounting automation for small and medium enterprises.
Salt Edge provides Open Banking infrastructure, including account aggregation, payment initiation, and data enrichment services for financial institutions and fintech companies across Europe. The company operates under the PSD2 frameworks as an account information service provider and payment initiation service provider.
