Freshfields Bruckhaus Deringer (“Freshfields”) is advising Warburg Pincus on the proposed sale of Vodeno, a provider of comprehensive cloud-based banking platform services, and Aion Bank, a digital bank based in Belgium.

Vodeno and Aion Bank combine to provide end-to-end Banking-as-a-Service (BaaS) for both financial and non-financial companies across Europe.

The transaction is subject to certain closing conditions, including regulatory approval.

The Freshfields team is being led by Private Capital partner Patrick Ko, together with counsel Mac Mackenzie on regulatory matters and partners Tom McGrath on competition matters, May Smith on tax matters and Holly Insley on employment matters.