Global payments technology developer Silverflow has closed a €3m investment to support its launch in 2021.
UK-based venture capital firm Crane Venture Partners, with additional contributions coming from Inkef Capital, several angel investors and industry leaders from Pay.On, First Data, Booking.com and Adyen.
Alongside launching its platform, Silverflow will use the funds to double the size of its team by the end of the year. This includes hiring new developers and a commercial director.
Silverflow, which is based in Amsterdam, claims to be the first card payments processor with a cloud-native platform. The target market for its solution are payment service processors (PSPs), acquirers and global top-market merchants that have €500m-10bn in annual transactions.
Anne Willem de Vries, CEO and cofounder of Silverflow, commented, “Today’s card payment infrastructure is based on 30 to 40-year-old technology that’s still in use across the global payment landscape. The payment technology infrastructure costs everyone time and money: consumers, merchants, payment-service-providers, and banks. We founded Silverflow with the belief that the payments technology stack needs an upgrade.”
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