Fintech startup Payflows has emerged from stealth mode, securing €25 million in Series A funding to drive its enterprise financial automation platform.
Developed since 2022, the platform is tailored to automate financial operations for scale-ups positioned “at the mid to upper end of growth.” Its functionalities span across accounts processing, procurement, payments, cashflows, customer and supplier insights, and other tasks within the purview of a CFO.
Delivered through Software-as-a-Service (SaaS), the solution complements existing enterprise resource management (ERP) tools, rather than serving as a complete replacement. This flexibility allows for the deployment of specific modules as needed.
In a recent statement, the Paris-based fintech highlighted the cost-efficiency of Payflows, emphasizing that CFOs only pay for essential ERP licenses while ensuring access to crucial data for team efficiency.
The platform pledges real-time visibility into financial tasks, streamlined collaboration among teams, and heightened productivity, leveraging AI technology.
Previously, Payflows secured a $5.5 million (€5.1 million) seed funding round from Ribbit Capital and US-based venture capital firm Headline. Business Insider reported that both investors continued their support in the Series A round, led by Balderton Capital.
Founder Pauline Glikman envisions Payflows as “a single platform for finance teams to sync and orchestrate data across all their ERP tools and financial systems.” Glikman asserts that the platform empowers rapid workflow modifications “in seconds,” without the need for developer oversight or coding.
Source: fintechfutures.com
