Payflows emerges from stealth with €25m Series A funding
Fintech start-up Payflows has emerged from stealth mode with €25 million in Series A funding to power its enterprise financial automation platform.
Fintech start-up Payflows secures €25m Series A
In the works since 2022, the platform has been built to automate the financial functions of scale-ups “at the mid to upper end of growth”.
Its capabilities extend to accounts processing, procurement, payments and cashflows, customer and supplier insights, and other operations held under the remit of a CFO.
Delivered via Software-as-a-Service (SaaS), the offering is designed to work alongside legacy enterprise resource management (ERP) tools – as opposed to being a complete replacement – and enables specific modules to be deployed at the time of need.
“Using Payflows, CFOs need only pay for the expensive ERP licences they really need while maintaining access for their teams to the data they need to do their jobs efficiently,” the Paris-based fintech says in a recent statement.
It promises real-time visibility over financial tasks, smoother collaboration between teams, and increased productivity as a result of the platform’s deployment, aided by its use of AI technology.
Business Insider previously reported that the start-up raised $5.5 million (€5.1 million) in seed funding from Ribbit Capital and US-based venture capital firm Headline shortly after being founded, with the two investors following through their investment into its Series A, which was led by Balderton Capital.
Speaking on the development of Payflows, founder Pauline Glikman describes its offering as “a single platform for finance teams to sync and orchestrate data across all their ERP tools and financial systems”, before claiming that the platform can modify workflows “in seconds” without the oversight of developers or coding.
