Barcelona-based Payflow, a ‘salary on demand’ startup, lands €2 million to create well-being that is financial employees

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Hardly 8 months following its launch, Barcelona-based startup Payflow has extended its seed round financing to €2 million, with strategic investors in the lead. This Spanish wellness that is financial makes it possible for workers to have compensated on need, has accompanied the portfolios of Wayra (Telefonica’s innovation hub), Zone2boost (the Overseas Innovation Programme of [...]

Hardly 8 months following its launch, Barcelona-based startup Payflow has extended its seed round financing to €2 million, with strategic investors in the lead.

This Spanish wellness that is financial makes it possible for workers to have 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 would be accustomed combine their development and placement among the pillars of this fintech field that is spanish. Additionally efficiently highlights the relevance and energy of the model offered the times during the crisis we all have been coping with, into the wake of this COVID-19 pandemic.

Created during the early times of 2020, this Spanish fintech currently has a lot more than 100 businesses having its solution, including Scalpers, Natura and Aravinc.

These are merely some of the names that may attest into the solution and monetary freedom that Payflow has awarded the thousands of workers having its application.

Based on the CaixaBank Accelerator, Global Payment and Worldine: “Payflow is a cutting-edge economic solution that improves people’s everyday lives and there’s no doubt that in the foreseeable future, Payflow will likely to be since essential as other social advantages, on par with medical insurance.”

The mobile application, established by Avinash Sukhwani and Benoit Menardo, permits workers to get the percentage of the attained salary every time they want, rather than needing to watch for a payday that is inflexible. With this specific model, workers have control of if they receive money, and certainly will allied cash advance review do not have to depend on crippling payday advances or other dangerous “fast money” instruments. Furthermore, the program includes use of “Learnflow”, Payflow’s interactive e-learning platform for achieving economic wellness.

Benoit Menardo, co-founder of Payflow highlighted that “the pandemic has accelerated the digitization of HR divisions and also this has affected our development really definitely particularly since it’s very easy to incorporate with this client’s payroll processes and systems”. Avinash Sukhwani, co-founder added: “Today millions of euros are usually being gathered on-demand with Payflow on a monthly basis so we are actually proud to start to see the genuine and good effect we are having on our customers: less turnover, more efficiency and a much better worker experience.”

“On-demand salary access is a trend that is growing an essential part of the digitization of organizations,” said Marta Antúnez, director of Telefónica’s innovation hub, Wayra. “Now more than ever before, solutions like Payflow are expected to enable workers, particularly into the sectors which have experienced many through the pandemic. That way employees can access their wage once they require it most through a software and an easy simply simply click.”

In addition, Jaime de Borbón Dos Sicilias, Director of Plug and Enjoy Spain commented: “Payflow is amongst the many revolutionary and interesting solutions from the technical viewpoint. Furthermore, compliment of its solution, employees gain monetary security and an improved total well being, while companies gain loyalty and increase the wellbeing of these employees. Everybody else wins.”

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