Aion Bank and Copenhagen-based embedded fintech firm Moneyflow announced on Wednesday, August 31, that they had reached a debt financing arrangement in which Moneyflow had raised €250M.
Wojciech Sass, CEO of Aion Bank, says, “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 innovation. We are excited to help the Moneyflow team accelerate their growth that will result in more businesses getting paid faster.”
The cash, according to Moneyflow, will be used to hasten the roll-out of its embedded finance services among platform partners in the Nordics and the rest of Europe.
Aion Bank and the Danish fintech company want to expand their collaboration into new areas. Moneyflow will be given access to regional IBANs and regional payment systems where the Bank is now located in Europe thanks to Aion and its technology partner, Vodeno.
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