The Spanish fintech payflow has collected 1.6 million euros in one round owned by investors such as Rocket Internet, Lanai Partners, Itnig, Abac Nest, Michael Benabou and Clement Benoiten. This was reported on July 15th from Cantabria Económica.
The article described that in detail The startup, founded by Avinash Sukhwani and Benoit Menardo, former advisors to Bain Company and BCG, was launched three months ago and has already received the support of more than 30 companies as customers.
“With this round, the company intends to expand its team and improve its product to begin international expansion beyond Spain in 2021,” the publication said.
“”Payflow is an application to collect part of the pay slip in advance and also hopes to be a financial wellbeing platform that provides significant added value to workers and their businesses, ”they later added, describing Fintech.
On the other hand, they pointed out that this happens without companies having to have cash flows in the middle of the month and to some extent simplify the accounting processes.
Avinash Sukhwani commented:
“Our mission is to remove financial burdens and to say goodbye to loans, overdrafts and microcredit. All Spaniards should be able to face an unforeseen event. “
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