Hardly 8 months following its launch, Barcelona-based startup Payflow has extended its seed round financing to €2 million, with strategic investors at the forefront.
This Spanish wellness that is financial makes it possible for workers getting compensated on need, has accompanied the portfolios of Wayra (Telefonica’s innovation hub), Zone2boost (the Overseas Innovation Programme of CaixaBank, worldwide Payment and Worldline) and Plug & Enjoy (the famous Silicon Valley investment fund, that invested early into Bing, PayPal, Dropbox, N26 and Rappi).
For Payflow, these alliances and also the fresh funds are going to be used to combine their development and placement among the pillars regarding the fintech field that is spanish. Additionally efficiently highlights the relevance and energy of the model provided the times during the crisis we all have been coping with, when you look at the wake regarding the COVID-19 pandemic.
Established during the early times of 2020, this fintech that is spanish has a lot more than 100 businesses having its service, including Scalpers, Natura and Aravinc.
These are merely a some of the names that may attest to your solution and freedom that is financial Payflow has provided the tens and thousands of workers which consists of application.
Based on the CaixaBank Accelerator, Global Payment and Worldine: “Payflow is a cutting-edge solution that is financial improves people’s life and there’s without doubt that in the foreseeable future, Payflow is supposed to be since essential as other social advantages, on par with medical health insurance.”
The mobile application, started by Avinash Sukhwani and Benoit Menardo, permits workers to get the percentage of the received salary every time they want, in place of needing to watch for an inflexible payday. With this particular model, workers have control of once they receives a commission, and certainly will never need to count on crippling payday advances or other high-risk “fast money” instruments. Also, the applying includes usage of “Learnflow”, Payflow’s interactive e-learning platform for attaining monetary health.
Benoit Menardo, co-founder of Payflow highlighted that “the pandemic has accelerated the digitization of HR divisions and also this has impacted our growth really absolutely specially as it’s simple to incorporate with your client’s payroll processes and 
systems”. Avinash Sukhwani, co-founder added: “Today millions of euros are usually being gathered on-demand with Payflow each month and we also are actually proud to understand genuine and impact that is positive are wearing our customers: less turnover, more efficiency and a much better worker experience.”
“On-demand income access is just a trend that is growing a significant part of the digitization of organizations,” said Marta Antúnez, manager of Telefónica’s innovation hub, Wayra. “Now as part of your, solutions like Payflow are expected to enable workers, particularly into the sectors which have experienced many through the pandemic. That way workers can access their salary if they want it many through a application and a straightforward simply simply click.”
In addition, Jaime de Borbón Dos Sicilias, Director of Plug and Enjoy Spain commented: “Payflow is amongst the many revolutionary and interesting solutions from the technical perspective. More over, compliment of its solution, employees gain economic security and an improved well being, while companies gain loyalty and enhance the wellbeing of the workers. Everybody wins.”