Finance teams often face challenges in achieving realistic outcomes due to isolated approaches during budgeting and planning, hindering collaboration with other departments. Outdated tools and platforms further impede efficiency, while limited visibility into cross-organizational spending poses additional obstacles.
Key Investment:
- Paris-based SaaS platform Payflows secures a significant €25 million Series A funding round led by Balderton Capital, with participation from Ribbit Capital, Headline, 20VC, and the family offices of Plaid’s founder and Galeries Lafayette.
Seamless Integration and Collaboration:
- Founded in 2022 by former Airbnb and Luko executives Pauline Glikman and Joseph Assouline, Payflows aims to transform finance team operations by offering a modular automation platform that seamlessly integrates with legacy ERPs.
- The platform provides mid-sized and growing companies with a cost-effective solution to synchronize all finance workflows, starting with procurement and treasury.
Real-Time Insights:
- Payflows addresses challenges of siloed workflows and manual tasks by offering a single source of truth for accounts payable, accounts receivable, customers, suppliers, payments, and cash flows.
- Real-time visibility and smoother collaboration enhance productivity and decision-making, leveraging automation and AI tools.
A Single Platform:
- Payflows allows CFOs to optimize their tech stack by selecting product modules individually, tailored to their specific needs.
- By overlaying existing ERPs, Payflows eliminates the need for multiple licenses, offering a unified platform for finance teams to orchestrate data across various systems.
Addressing the Needs of Scaling Companies:
- Targeting mid to upper-growth companies facing complex regulations and operations across multiple markets and currencies, Payflows provides sophisticated solutions at a fraction of the cost compared to traditional offerings.
Accelerated Growth:
- Emerging from stealth after almost two years of growth, Payflows has garnered significant traction with clients including Swile, Ornikar, Spendesk, and Podimo.
- With increasing demand for streamlined finance solutions, Payflows is poised for further expansion and innovation in the finance technology space.
Investor Confidence:
- Rana Yared, General Partner at Balderton Capital, highlights the pressing need for solutions that streamline financial tools and workflows for growing businesses.
- Payflows’ modular platform enhances visibility and collaboration for finance teams, accelerating productivity and cutting costs, addressing a real and pressing challenge for CFOs.
The significant investment and growing client base underscore Payflows’ potential to revolutionize finance team operations and drive efficiency in the evolving business landscape.
