Payflow, the flexible salary fintech, has recently raised a €6 million funding round to support its growth in Spain, Portugal, and the Latam markets of Peru and Colombia. The funding round was led by Seaya Ventures, Cathay Innovation, 6 Degrees Capital, and Wayra, who were already existing investors in the company.
In addition to the previous investors, Payflow also welcomed new investors to its cap table, which include Thomson Reuters Ventures from the United States and GED Conexo Ventures from Spain. This diverse mix of investors is a testament to the growing interest in Payflow’s efficient financial solutions.
Benoit Menardo, co-founder of Payflow, expressed his confidence in the company’s financial efficiency as a key factor for attracting investment in the current market. While Payflow continues to experience remarkable growth of over 100% year-on-year, Menardo emphasized that the company no longer relies on external funding to sustain its rapid expansion.
The new funding will be instrumental in Payflow’s plans to enhance its presence and offerings in Spain, Portugal, Peru, and Colombia. The company aims to further establish its position as a leading provider of flexible salary solutions in these markets, addressing the evolving needs of both employers and employees.
Payflow’s ability to secure this significant funding round reflects investor confidence in its innovative approach and the potential for further market expansion. With its strengthened financial backing, Payflow is well-positioned to continue its growth trajectory and bring its flexible salary solutions to a wider audience.