SnelStart Group has just expanded with the acquisition of its long-term partner, Flow, which will continue to operate as an independent brand within a larger organization.
SnelStart, a Dutch software company specializing in user-friendly financial management software, has announced its acquisition of another local fintech startup – Flow, focusing on embedded finance solutions.
The acquisition is a logical continuation of the previous successful partnership between the two companies. The two companies have been working closely since Flow’s early days, with SnelStart being the first to use its banking-as-a-service (BaaS) technology.
For a while, before the merger, Flow powered embedded banking solutions within SnelStart’s accounting software, leveraging Adyen’s banking-as-a-service (BaaS) platform. This collaboration allowed entrepreneurs to open fully integrated business bank accounts, directly connected to their accounting systems, within one working day.
Now, becoming a part of the same group, Flow will continue to operate independently while gaining access to SnelStart’s large SME and accountant user base, enabling even faster rollouts and deeper integrations.
For the company’s client entrepreneurs, this partnership means day-to-day finance is about to get a lot simpler. From opening a business account in just one day to automating VAT, reconciling payments instantly, and accessing financing all within the same accounting software, SMEs will now be able to manage their money with far less friction.
“With Flow, we bring unique knowledge and technology to accelerate our embedded finance strategy. At the same time, we offer Flow a stable and entrepreneurial environment in which they can continue to grow. This is how we strengthen each other and our customers,” explains SnelStart CEO Herman Weessies.
Started as a ‘Flow Your Money’ budgeting app in 2018, Flow has quickly evolved into an embedded finance platform, FlowOS. The startup has raised a total of approximately €4.8 million in funding to date. Its most notable fundraising event was a €3.5 million seed investment round announced in April 2022.
