Payflow said to close €2m in its seed round

Spanish FinTech company Payflow has reportedly added additional funding to its seed round, bringing the total to €2m.

The round was backed by Wayra, Zone2boost and Plug & Play, according to a report from EU-Startups.

With the equity, the company will further its growth and bolster its position in the market.

Founded in 2020, Payflow is an employee benefits platform which gives consumers early access to their salary.

Payflow co-founder Benoit Menardo told EU-Startups, “The pandemic has accelerated the digitization of HR departments and this has impacted our growth very positively especially because it’s easy to integrate with our client’s payroll processes and systems.”

Last year, fellow Spanish FinTech company Nemuru closed a €2.6m funding round to support its growth across the country. The company offers a point-of-sale lending platform that enables businesses within the vehicle, travel and rental space to offer short-term loans.

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