Madrid-based Payflow, a FinTech startup, raised €10 million in equity financing to expand their Earned Wage Access platform.
The funding round was led by Cusp Capital, making them the investor with the highest stake in Payflow. The total equity raised now stands at €24 million, with an additional €27 million in debt financing.
Payflow, founded in 2020, offers a B2B SaaS solution to employers for a fixed monthly fee, allowing employees to access their earned salary and utilize various financial benefits.
The company aims to be a market leader in Spain and Latin America, with a growing client base that includes well-known brands. They have also introduced a new product, Flexflow, to further enhance employee benefits.