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Moneyflow to accelerate the roll-out of its embedded finance services

Partnership with Aion Bank to enable up to €250 millions of asset-backed debt funding

August 31st, 2022 — Copenhagen, Denmark: Moneyflow Group A/S (“Moneyflow”), the Nordic embedded finance startup, today announced it has entered into a debt financing agreement with Banking-as-a-Service (BaaS) provider, Aion Bank. Moneyflow intends to provide up to €250 millions of receivables-backed financing to accelerate the roll-out of its embedded finance services across platform partners in the Nordics, as well as broader Europe.

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.

“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.

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 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.”

PJT Partners served as exclusive financial advisor to Moneyflow on this important milestone.

About Moneyflow

Moneyflow enables an underserved SME market to grow by offering them funding inside their existing workflow platform. To do this, Moneyflow has developed the most sophisticated underwriting engine on the market with advanced risk and payment predictions. This ensures that companies can free up liquidity from invoices and future earnings while eliminating the risk of late payments. Moneyflow is headquartered in Copenhagen, Denmark and operates under supervision of the Danish Financial Supervisory Authority. For more information, please visit:

About Aion Bank and Vodeno

Aion Bank and Vodeno are acting as commercial partners with a mission to revolutionise the Financial Services industry. Combining a modern cloud-native ‘360’ platform ecosystem, an ECB banking licence which can cover on a passport basis – the whole EU market and a team of banking experts, we are uniquely positioned to offer comprehensive embedded financial services for banks, lenders and merchants across multiple sectors. Covering all areas of the banking ecosystem, from ‘smart contract enabled’ core banking to accounts, onboarding, payments, cards, investment and lending solutions, Aion and Vodeno offer the ability to meet the demands of regulation while enabling innovation at speed. Aion Bank and Vodeno are separate companies and backed by global private equity firm Warburg Pincus LLC. For more information, please visit:

Chris Crespo
Chris Crespo
Chris is a Founding Partner and Chief Editor at Nordic Fintech Magazine, where he simplifies complex financial ideas into easy-to-understand content. With nearly 20 years of experience in management consulting and financial services, including leadership roles with some of Europe's largest banks, he offers profound industry insights. Previously serving as the Chief Futurist at the largest bank in the Nordics, Chris has sharp views on the Future of Financial Services, Money, Disruption, and Ethical AI in Finance. He is also a guest lecturer at Stanford University, Singularity University and Copenhagen Business School, where he frequently discusses the future of Money, Finance, and Entrepreneurship in Financial Services. As a Behavioral Economist, Chris is passionate about studying how human behavior and decision-making relate to risk. He also delves into the connections between psychology, leadership, and technology within financial services.
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