← Embedded Finance Index 2026/Vendor

Vodeno

Provider

BaaS Ledger Card Issuing

Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 8 companies across 3 categories.

vodeno.com ↗Also analysed as a company — its own stack →Open Banking Tracker profile ↗

CategoriesBaaS, Ledger, Card Issuing
Rank#57 of 322 in BaaS
Buyers8 companies

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In the press

embeddedfinancereview.com ↗

Coverage of Vodeno sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.

◇ article2026-05-12

Vertical SaaS embeds lending, UniCredit and Vodeno fund it

Vertical SaaS embeds lending at the front end, while UniCredit and Vodeno fund it from the back. Plus Pleo, Deel, Hrmony and more.

Source · Embedded Finance Review ↗

◇ article2026-05-10

UniCredit funds Wealthon's SME lending book via Vodeno

UniCredit signs €115m receivables purchase deal with Polish fintech Wealthon, funding SME lending via Vodeno's BaaS platform.

Source · Embedded Finance Review ↗

🎙 interview2024-07-30

Shaul David, Banking-as-a-service advisor: Why did UniCredit acquire Vodeno

Explore how UniCredit's acquisition of Vodeno and Aion Bank reshapes European embedded finance. Expert insights from Shaul David on the €370M deal, implications for NatWest Box, and future of banking-as-a-service. Essential listening for fintech professionals and banking executives.

Source · Embedded Finance Review ↗

◇ article2024-07-27

Why did UniCredit acquire BaaS provider Vodeno and Aion Bank?

Italian bank UniCredit acquired Polish banking infrastructure provider Vodeno and Belgian bank Aion Bank for € 370 million. Both companies are jointly offering a banking-as-a-service service product. Lars Markull speaks with embedded finance expert Shaul David about the acquisition in the newest edition of Embedded Finance Review Podcast. Additionally, the newsletter covers Visa, Weavr and more.

Source · Embedded Finance Review ↗

◇ article2024-03-04

Is UniCredit buying BaaS provider Vodeno?

UniCredit is reportedly eyeing Polish BaaS provider Vodeno. Could this surprise move mark the bank’s entry into embedded finance innovation?

Source · Embedded Finance Review ↗

Who uses Vodeno

8 companies disclose Vodeno in their stack

Banxware Transitions NatWest Box UniCredit Wealthon NatWest Boxed Banxware Partnership Unitplus Metro AG

Buyer mix · 8 of 8 classified

Infrastructure / BaaS · 2Infrastructure / Lending · 2Bank / National · 1Fintech / Investment · 1Fintech / SMB Lending · 1Wholesale / Cash & Carry (HoReCa) · 1

EU · 6 UK · 2

What the disclosures say

Banxware Transitions

“UniCredit press release (June 2025) confirms partnership with Aion Bank (UniCredit-owned Belgian bank) and Vodeno (BaaS platform) to fund Banxware's lending under a forward flow model.”

NatWest Box

“Combining our technology stack, banking license, compliance expertise and operational support.' Embedded Finance Review: 'born out of a 2022 strategic partnership with Vodeno Group.”

UniCredit

“The Banxware June 2025 press release on unicreditgroup.eu states Banxware 'partners with UniCredit's newly acquired BaaS platform Aion and Vodeno', confirming UniCredit acquired Aion Bank with Vodeno BaaS technology.”

Wealthon

“UniCredit-Wealthon receivables deal is funded via Vodeno's BaaS platform per Embedded Finance Review.”

NatWest Boxed

“nwboxed.com and Celent whitepaper: 'born out of a 2022 strategic partnership with Vodeno Group.”

Banxware Partnership

“UniCredit press release (June 2025): 'partnership with UniCredit's newly acquired BaaS platform Aion and Vodeno to enhance its automated lending solutions to SMEs'.”

The complete buyer list and each company’s full embedded-finance stack are in the Embedded Finance Index report. Represent Vodeno? Claim this profile above to unlock your own full list.

Alternatives to Vodeno

Other BaaS providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.

Evolve Bank & Trust70 buyers →Sutton Bank63 buyers →Cross River55 buyers →Pathward48 buyers →Unit43 buyers →ClearBank38 buyers →Thread Bank32 buyers →Backbase30 buyers →

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