- Payflows Series A Funding:
- Fintech start-up Payflows has emerged from stealth mode with €25 million in Series A funding to support its enterprise financial automation platform.
- Platform Features:
- Payflows’ platform is designed to automate financial functions for scale-ups in the mid to upper end of growth.
- It covers various financial operations, including accounts processing, procurement, payments, cashflows, customer and supplier insights, and other tasks typically managed by CFOs.
- Software-as-a-Service (SaaS) Model:
- The platform is delivered via Software-as-a-Service (SaaS) and is intended to complement existing enterprise resource management (ERP) tools rather than replacing them entirely.
- Specific modules can be deployed as needed, allowing CFOs to pay only for the ERP licenses they require.
- Benefits and Promises:
- Payflows promises real-time visibility over financial tasks, improved team collaboration, and increased productivity through the use of AI technology.
- It allows for quick modification of workflows without the need for developers or coding.
- Funding Details:
- Payflows previously raised $5.5 million (€5.1 million) in seed funding from Ribbit Capital and Headline, and now secures additional funding in its Series A round led by Balderton Capital.
- Founder’s Statement:
- Founder Pauline Glikman describes Payflows as providing “a single platform for finance teams to sync and orchestrate data across all their ERP tools and financial systems”, highlighting its flexibility in modifying workflows.
