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Barcelona-based Payflow, a ‘salary on demand’ startup, lands €2 million to carry economic wellbeing to workers

Barcelona-based Payflow, a ‘salary on demand’ startup, lands €2 million to carry economic wellbeing to workers

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 monetary health startup allowing employees to obtain paid on need, has accompanied the portfolios of Wayra (Telefonica’s innovation hub), Zone2boost (the Global Innovation Programme of CaixaBank, worldwide Payment and Worldline) and Plug & Enjoy (the famous Silicon Valley investment fund, that invested early into Google, PayPal, Dropbox, N26 and Rappi).

For Payflow, these alliances while the fresh funds are going to be accustomed combine their development and placement among the pillars of this fintech field that is spanish. It also effortlessly highlights the relevance and energy of its model provided the times during the crisis we all have been coping with, when you look at the fig loans login wake of this COVID-19 pandemic.

Launched during the early times of 2020, this fintech that is spanish has significantly more than 100 businesses which consists of solution, including Scalpers, Natura and Aravinc.

They are simply a number of the names that may attest to your solution and economic freedom that Payflow has provided the tens and thousands of workers which consists of application.

In line with the CaixaBank Accelerator, Global Payment and Worldine: “Payflow is a forward thinking solution that is financial improves people’s lives and there’s without doubt that as time goes by, Payflow may be since essential as other social advantages, on par with medical insurance.”

The mobile application, launched by Avinash Sukhwani and Benoit Menardo, permits workers to get the percentage of these received salary each time they want, in the place of being forced to watch for an inflexible payday. With this particular model, workers have control of if they receive money, and can not have to count on crippling pay day loans or other“fast that is risky” instruments. Also, the applying includes usage of “Learnflow”, Payflow’s interactive e-learning platform for attaining wellness that is financial.

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 favorably specially as it’s simple to integrate with your client’s payroll processes and systems”. Avinash Sukhwani, co-founder added: “Today millions of euros seem to be being gathered on-demand with Payflow each month therefore we are actually proud to understand genuine and impact that is positive are wearing our customers: less turnover, more efficiency and a far better worker experience.”

“On-demand income access is really a trend that is growing an essential step up the digitization of organizations,” said Marta Antúnez, manager of Telefónica’s innovation hub, Wayra. “Now inside your, solutions like Payflow are essential to enable workers, particularly in the sectors which have experienced many through the pandemic. In this way workers can access their income once they want it many via a software and a straightforward 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 a point that is technological of. More over, because of its solution, employees gain economic security and an improved standard of living, while companies gain loyalty and enhance the wellbeing of the workers. Every person wins.”

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