Payflow, a Spain-based salary-advance fintech with ambitions to evolve into a neobank, raised $9.1 million in a Series A funding round, bringing the total raised to $13.6 million since January 2020.
Investors in the round include a mix of national and international funds, including Spain’s Seaya Ventures, a new backer of Payflow, and Cathay Innovation via its C. Entrepreneurs Fund, which is co-leading the round, with participation from Force Over Mass Capital, Y Combinator, and Rebel Fund.
The startup’s Series A funding is earmarked for expanding Payflow’s international footprint. It is also planning to spend on product development to fuel its goal of evolving into a neobank.
Company: Payflow Digital SL
Raised: $9.1M
Round: Series A
Funding Month: January 2022
Lead Investors: Seaya Ventures and Cathay Innovation
Additional Investors: Force Over Mass Capital, Y Combinator and Rebel Fund
Company Website: https://www.payflow.es/
Software Category: Financial solution
About the Company: Payflow is founded in March 2020, Payflow is an innovative financial solution that improves people’s lives. Payflow is an innovative app that allows your colleagues to get paid when they need it with one click, it operates a SaaS business model, charging employers a tiered fee depending on the number of employees using the product. Payflow's goal is not just to be an app to get paid in advance, but to truly create a platform for financial well-being that provides significant value for workers and their companies. Payflow’s mission is to bring financial well-being to all workers, to increase their motivation and productivity at work to improve the way of charging change lives.
Source: https://techcrunch.com/2022/01/17/payflow-series-a/?guccounter=1