Moneyflow, a Danish integrated finance provider, has partnered with Aion Bank to enable up to €250 million ($248.6 million) in debt financing, which will be utilized to speed Moneyflow’s service expansion across Europe.
Moneyflow CEO and Founder Kim Ulf Rehfeld Thodén remarked in a news release, “The balance sheet support from Aion Bank is the largest single fundraising amount made available to an of our kind in Scandinavia.” “We are now ready to take advantage of the large and expanding market potential.”
Moneyflow enables small and medium-sized businesses (SMBs) to sell invoices and future revenues in their existing enterprise resource planning (ERP) platforms. Since the company’s debut in 2018, hundreds of SMBs have used its services to gain liquidity, according to the statement.
“We believe in the future where being paid is easy,” Thodén said. “We give the receiver power, not the payer, upfront, early, or exactly as agreed.”
In addition to the debt financing, Aion and its technology partner Vodeno will provide banking services to Moneyflow, and the three companies will expand their relationship in other areas.
“The goal of our BaaS business is to enable brands, retailers, and [FinTechs] like Moneyflow to integrate financial services that help drive new innovation,” said Aion Bank CEO Wojciech Saas. “We are ecstatic to be able to help the Moneyflow team accelerate their growth, which will result in more firms being paid faster.”
This statement comes around three months after Factris, an Amsterdam-based startup, secured a €10 million investment from Goldman Sachs-owned asset manager NN Investment Partners in order to provide personalised advice and accessible credit to European SMBs.