Moneyflow, a Danish integrated finance firm, has teamed with Aion Bank to enable up to €250 million ($248.6 million) in debt investment, which will be used to accelerate the spread of Moneyflow’s services across Europe.
In a news statement, Moneyflow CEO and Founder Kim Ulf Rehfeld Thodén stated, “The balance sheet backing from Aion Bank is the greatest single fundraising amount made available to an of our kind in Scandinavia.” “We are now poised to accelerate into the vast and increasing market potential.”
Moneyflow enables SMBs to sell invoices and future earnings in their existing enterprise resource planning (ERP) platforms. According to the statement, hundreds of SMBs have utilized the company’s services to obtain liquidity since its inception in 2018.
“We believe in a future in which being paid is simple,” Thodén stated. “We put control in the hands of the recipient, not the payer, upfront, early, or exactly as agreed.”
Aion and its technology partner Vodeno will supply banking services to Moneyflow in addition to the debt finance deal, and the three firms will expand their collaboration into other areas.
“The purpose of our BaaS business is to enable brands, retailers, and [FinTechs] like Moneyflow to integrate financial services that help drive new innovation,” said Wojciech Saas, CEO of Aion Bank. “We are thrilled to be able to assist the Moneyflow team in accelerating their growth, which will result in more companies being paid faster.”
This announcement comes roughly three months after Factris, an Amsterdam-based firm, received €10 million in investment from Goldman Sachs-owned asset management NN Investment Partners to provide individualized assistance and accessible finance to European SMBs.
