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

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

Scarcely 8 months as a result of its launch, Barcelona-based startup Payflow has extended its seed round financing to €2 million, with strategic investors at the forefront.

This Spanish wellness that is financial that allows workers to obtain 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 as well as the fresh funds will likely be used to combine their development and placement among the pillars associated with Spanish fintech industry. Additionally efficiently highlights the relevance and energy of its model given the times during the crisis we all have been coping with, into the wake associated with pandemic that is COVID-19.

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

These are merely a number of the names that may attest to your solution and freedom that is financial Payflow has provided the thousands of workers which consists of application.

In accordance with the CaixaBank Accelerator, Global Payment and Worldine: “Payflow is a cutting-edge solution that is financial improves people’s everyday lives and there’s without doubt that later on, Payflow is supposed to be because crucial as other social advantages, on par with medical health insurance.”

The mobile application, established by Avinash Sukhwani and Benoit Menardo, permits employees to get the percentage of these gained salary every time they want, rather than needing to watch for a payday that is inflexible. With this particular model, workers have control of if they receive money, and certainly will do not have to depend on crippling pay day loans or other“fast that is risky” instruments. Also, the program includes usage of “Learnflow”, Payflow’s interactive e-learning platform for attaining economic health.

Benoit Menardo, co-founder of Payflow highlighted that “the pandemic has accelerated the digitization of HR divisions and also this has impacted our development very favorably specially as it’s an easy task to incorporate with this client’s payroll processes and systems”. Avinash Sukhwani, co-founder added: “Today millions of euros are generally being gathered on-demand with Payflow on a monthly basis so we dollar loan center fees are actually proud to look at real and good effect we are wearing our customers: less turnover, more efficiency and a far better worker experience.”

“On-demand wage access is just a trend that is growing an important part of the digitization of companies,” said Marta Antúnez, manager of Telefónica’s innovation hub, Wayra. “Now as part of your, solutions like Payflow are required to enable workers, particularly within the sectors which have experienced many through the pandemic. That way workers can access their wage once they want it most via an application and a straightforward simply simply click.”

In addition, Jaime de Borbón Dos Sicilias, Director of Plug and Enjoy Spain commented: “Payflow is just one of the most revolutionary and interesting solutions from a point that is technological of. More over, as a result of its solution, employees gain economic security and a far better well being, while companies gain loyalty and increase the wellbeing of these workers. Everybody wins.”