How Moneyflow empowers smaller businesses

July 19, 2019 | Louise Basse

Long waiting time. Hidden fees. Big piles of documents to fill out.

That is something many small businesses struggle with when they’re applying for smaller loans.

Even though a low interest rate loan could save most small businesses, these loans are known for being both difficult and time-consuming to get.

But why wait?

With access to real-time bank data from all Nordic banks, Moneyflow is able to ensure low risk loans, great interest rates and the ability to saying yes to more good businesses where others say no.

We sat down with Moneyflow’s Founder and CEO, Kim Ulf Rehfeld Thoden to talk about how they’ve created instant business loans with Aiia.


A smoother money flow for smaller businesses

As the name suggests, Moneyflow is all about creating a better money flow for smaller businesses by providing them with instant low interest loans.

With access to real-time data, Moneyflow’s solution has been embedded directly into big accounting platforms such as Billy.

But how does it actually work?

Founder and CEO of Moneyflow, Kim Ulf Rehfeld Thoden, explains:

“Well, let’s say you’re a small business owner who’s waiting for an invoice to be paid. Instead of waiting to receive the money, you can go to the desired invoice, click on the Moneyflow widget, follow the instructions and that’s it. You’ll usually have the money in your bank account within a couple of hours”, Kim Ulf Rehfeld Thoden says and continues:

“If you’re shopping for new business inventory and you need some extra cash, you simply find the bill in your accounting system, click on the widget, and apply for the loan”.


Real-time bank data enables credit scoring in 30 seconds

But how is Moneyflow able to do instant credit scoring when it usually takes several weeks and lengthy applications to complete?

Well. That’s where Aiia comes into the picture:

“With Aiia, we’re able to access real-time bank data from all Nordic banks. Therefore, we can instantly use the business’ transaction and its accounting data to make us aware of its overall financial situation. In this way, we can ensure very low risk loans. Once the business has given its consent for us to process the data, it usually takes us 30 seconds to calculate the credit score”, Kim Ulf Rehfeld Thoden adds and concludes:

“Real-time data and data-driven solutions arethe future. And young businesses in particular are ready for that change. They’re already in the right mindset and they don’t wanna waste another minute on the phone with the bank”.