Moneyflow, Aion Bank Partner to Expand Debt Funding Across Europe

Danish embedded finance startup Moneyflow has partnered with Banking-as-a-Service (BaaS) provider Aion Bank to enable up to €250 million ($248.6 million) of debt funding, which will be used to speed the rollout of Moneyflow’s services throughout Europe.

“The balance sheet support from Aion Bank is the largest single raise amount made available to a [FinTech] of our nature in Scandinavia,” Moneyflow CEO and Founder Kim Ulf Rehfeld Thodén said in a Wednesday (Aug. 31) press release. “We are now ready to step on the accelerator to take on the large and expanding market opportunity.”

Moneyflow allows small- to medium-sized businesses (SMBs) to sell their invoices and future earnings in their existing enterprise resource planning (ERP) platforms. Since the company’s founding in 2018, thousands of SMBs have used its services to access liquidity, according to the release.

“We believe in a future where getting paid is easy,” Thodén said. “Upfront, early or just as agreed, we put the control in the hands of the receiver, not the payer.”

Beyond the debt financing agreement, Aion and its technology partner Vodeno will provide banking services to Moneyflow, and the three companies will also extend their cooperation into additional markets.

“The goal of our BaaS business is to enable brands, retailers and [FinTechs] like Moneyflow to embed financial services that help drive new innovation,” said Aion Bank CEO Wojciech Saas. “We are excited to help the Moneyflow team accelerate their growth that will result in more businesses getting paid faster.”

This announcement comes about three months after Amsterdam-headquartered startup Factris secured €10 million in funding from Goldman Sachs-owned asset manager NN Investment Partners to offer personalized guidance and affordable capital to SMBs in Europe.

Read more: Factris Secures €10 Million to Finance Invoices for European SMEs

“With all of the problems European [SMBs] face, Factris is proud to be part of the solution,” Factris CEO Brian Reaves told Silicon Canals in June. “Thanks to more funding, we can increase capacity and offer alternative financing to new markets and more businesses — all to help sustain and grow EU businesses.”

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