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

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

Scarcely 8 months following 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 makes it possible for employees 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 as well as the fresh funds are going to be accustomed combine their development and positioning among the pillars of this fintech field that is spanish. Additionally efficiently highlights the relevance and energy of their model because of the times during the crisis we all have been coping with, into the wake of this pandemic that is COVID-19.

Launched within the very early times of 2020, this Spanish fintech currently has a lot more than 100 companies which consists of service, including Scalpers, Natura and Aravinc.

They are simply a number of the names that will attest towards the solution and freedom that is financial Payflow has given the tens and thousands of employees having its application.

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

The mobile application, launched by Avinash Sukhwani and Benoit Menardo, permits workers to gather the percentage of the attained salary every time they want, as opposed to being forced to watch for a payday that is inflexible. With this particular model, workers have control of if they receives a commission, and certainly will allied cash advance online never need to count on crippling payday advances or other dangerous “fast money” instruments. Also, the application form includes usage of “Learnflow”, Payflow’s interactive e-learning platform for attaining monetary health.

Benoit Menardo, co-founder of Payflow highlighted that “the pandemic has accelerated the digitization of HR divisions and this has affected our development really favorably particularly as 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 and now we are actually proud to start to see the genuine and good effect we are wearing our customers: less turnover, more efficiency and a much better worker experience.”

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

In addition, Jaime de Borbón Dos Sicilias, Director of Plug and Play Spain commented: “Payflow is among the many revolutionary and interesting solutions from a technical standpoint. More over, because of its solution, employees gain economic security and an improved well being, while companies gain loyalty and enhance the wellbeing of these workers. Everybody else wins.”

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