Danish Fintech Moneyflow Bags €250 Million Debt Financing From Aion Bankby Fintechnews Nordics September 6, 2022
Danish embedded finance startup Moneyflow has entered into a debt financing agreement with Banking-as-a-Service (BaaS) provider Aion Bank to enable up to €250 million in asset-backed debt funding.
The partnership is expected to accelerate the roll-out of Moneyflow’s embedded finance services across platform partners in the Nordics, as well as broader Europe.
“The balance sheet support from Aion Bank is the largest single raise amount made available to a fintech of our nature in Scandinavia.
We are now ready to step on the accelerator to take on the large and expanding market opportunity,”
said Kim Ulf Rehfeld Thodén, Moneyflow’s CEO and Founder.
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.
“The goal of our BaaS business is to enable brands, retailers and fintechs like Moneyflow to embed financial services that help drive new innovation.
We are excited to help the Moneyflow team accelerate their growth that will result in more businesses getting paid faster,”
said Wojciech Sass, CEO of Aion Bank.