“Can an AR + licensed debt-collection workflow become the default accounts-receivable layer sitting on top of Nordic SMB accounting software?”
Founded 2018 by two Danish entrepreneurs whose previous TaskRabbit-style marketplace collapsed in 2017 under late-payment-driven cashflow pressure. They turned that pain into a product: Likvido automates the end-to-end AR cycle for Danish SMBs — invoice dispatch, payment reminders, bookkeeping reconciliation, and in-house debt collection as a licensed Danish inkassobureau. Acquired by Visma in January 2023 and now operates as part of Visma Denmark.
Likvido discloses Danske Bank as its banking provider, according to the Embedded Finance Index 2026.
Likvido does not disclose a bank charter of its own; its banking services are provided through Danske Bank.
Likvido processes payments through Stripe.
Likvido's cards run on Visa, Mastercard and American Express.
Likvido uses Experian (RKI) for KYC and identity verification.
Likvido integrates with e-conomic, Dinero, Billy and Microsoft Dynamics 365 Business Central.
The Embedded Finance Index 2026 maps 5 layers in Likvido's stack: Payments / PSP (Stripe); Banking / BaaS (Danske Bank); Card network (Visa, Mastercard and American Express); KYC (Experian (RKI)); Accounting (e-conomic, Dinero, Billy and Microsoft Dynamics 365 Business Central).
Likvido was founded by Maximilian Frimmer and Lars Holdgaard and is founded in 2018, headquartered in Copenhagen, Denmark.
Likvido has raised ~$4.05M (pre-acquisition) in total (latest round: Acquired by Visma (January 2023)).
Get a read on where your own stack stands against Likvido and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.