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Payflows secures €25 million in Series A funding


Payflows €25 million Series A funding

Payflows, an AI-powered SaaS finance platform, recently secured a remarkable €25 million in Series A funding.

Balderton Capital will be spearheading the Series A funding round, accompanied by Ribbit Capital, Headline, and 20VC, as well as the family offices of Plaid's founders and Galeries Lafayette, who are already existing investors.

Payflows is building a "love letter to the finance team" by allocating funds to upgrade their financial management systems through the automation of tedious and repetitive tasks. The company was founded in 2022 by former Luko executives Pauline Glikman and Joseph Assouline. For the past two years, the business has been expanding covertly, serving companies like Swile, Spendesk, and Podimo.

Most of its clients are businesses that are experiencing moderate-to-high growth. These clients often have to navigate complex regulations and operate in multiple markets and currencies.

Various information sources for payments, cashflows, suppliers, customers, accounts payable, and accounts receivable are consolidated in Payflows.

According to Gilkman, Payflows was created as the final missing component of the CFO toolkit, providing finance teams with a unified platform to automate and collaborate while syncing data between all of their financial systems and ERP tools.

Payflows enable the finance team to easily modify payment, cash management, procurement, and cash collection procedures without the need for coding, saving money by eliminating the requirement to hire expensive consultants or developers. The modern finance team now has the real-time control they deserve thanks to Payflows.

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