Scarcely 8 months as a result of its launch, Barcelona-based startup Payflow has extended its seed round funding to €2 million, with strategic investors at the forefront.
This Spanish economic health startup makes it possible for workers to obtain 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 therefore the fresh funds is going to be accustomed combine their development and placement among the pillars of this Spanish fintech industry. Additionally efficiently highlights the relevance and energy of their model offered the times during the crisis many of us are coping with, into the wake for the COVID-19 pandemic.
Launched during the early times of 2020, this Spanish fintech currently has significantly more than 100 businesses which consists of solution, including Scalpers, Natura and Aravinc.
They are simply a some of the names that will attest towards the solution and freedom that is financial Payflow has awarded the tens and thousands of workers having its application.
In line with the CaixaBank Accelerator, Global Payment and Worldine: “Payflow is a forward thinking solution that is financial improves people’s life and there’s without doubt that later on, Payflow is going to be because crucial as other social advantages, on par with medical health insurance.”
The mobile application, created by Avinash Sukhwani and Benoit Menardo, permits workers to get the percentage of the gained salary every time they want, rather than needing to watch for an inflexible payday. With this specific model, workers have control of once they receives a commission, and certainly will not have to count on crippling pay day loans or other“fast that is risky” instruments. Additionally, the program includes usage of “Learnflow”, Payflow’s interactive e-learning platform for attaining economic health.
Benoit Menardo, co-founder of Payflow highlighted that “the pandemic has accelerated the digitization of HR divisions and also this has impacted our development really definitely particularly since it’s simple to incorporate with your client’s payroll processes and systems”. Avinash Sukhwani, co-founder added: “Today millions of euros happen to be being https://personalbadcreditloans.net/reviews/cash-central-loans-review/ gathered on-demand with Payflow each month therefore we are actually proud to start to see the genuine and good effect we are wearing our customers: less turnover, more efficiency and an improved worker experience.”
“On-demand income access is a growing trend and a significant part of the digitization of organizations,” said Marta Antúnez, manager of Telefónica’s innovation hub, Wayra. “Now more than ever before, solutions like Payflow are essential to enable workers, particularly in the sectors which have experienced most through the pandemic. In this manner workers can access their wage if they require it many with a app and a straightforward simply click.”
In addition, Jaime de Borbón Dos Sicilias, Director of Plug and Enjoy Spain commented: “Payflow is just one of the many revolutionary and interesting solutions from a technical perspective. More over, as a result of its solution, employees gain economic security and a much better well being, while companies gain loyalty and enhance the wellbeing of the workers. Everybody else wins.”