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Thursday, October 6, 2022

Danish fintech receives €250 million in debt funding

Copenhagen-based embedded finance startup Moneyflow has secured €250 million (DKK 1.8 billion) in asset-backed debt funding from Belgian Aion Bank. Moneyflow enables an underserved SME market to grow by offering them funding inside their existing workflow platform. The startup expects to boost growth sharply.

Moneyflow enables companies, primarily SMEs, to sell their invoices and revenue streams directly into their ERP platforms such as Visma e-conomic, Dinero and Ordrestyring. Moneyflow was founded in 2018 by Danish entrepreneur Kim Ulf Rehfeld Thodén. Before returning home to Denmark three years ago, he helped construction companies in the UK with liquidity for over 20 years and more than a million different projects. The experience fuelled the idea to make it easier for SMEs to get paid for their invoices. Moneyflow has a recognized board with highly accomplished executives and entrepreneurs with more than 10 successful past exits. Since inception thousands of companies have relied on Moneyflow to access liquidity and unlock future earnings.

Moneyflow, Kim Ulf Rehfeld Thoden“We believe in a future where getting paid is easy. Upfront, early, or just as agreed, we put the control in the hands of the receiver, not the payer,” said Kim Ulf Rehfeld Thodén, Moneyflow’s CEO and founder. “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.”

Moneyflow and Aion Bank also plan 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.

Moneyflow, Aion Bank, Wojciech Sass Wojciech Sass, CEO of Aion Bank added: “We believe the best banking products and services should be accessible to everyone, and Moneyflow is doing exactly that for SMEs. The goal of our BaaS business is to enable brands, retailers, and fintech 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.”

Click to read more funding news.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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