Paris-based Payflows, an all-in-one SaaS platform for finance teams, announced on Monday that it has secured €25M in a Series A funding round led by Balderton Capital.
Existing investors, such as Ribbit Capital, Headline, 20VC, and the family offices of Plaid’s founder and Galeries Lafayette, also participated in the round.
Historically, finance teams worked in silos, spending hours on repetitive tasks without tech support.
Similar to Salesforce, Payflows offers a single source of truth for accounts payable, accounts receivable, customers, suppliers, payments, and cashflows, leading to improved visibility and teamwork.
Payflows: 360° finance platform for modern companies
Founded in 2022 by veterans of Airbnb and Luko — Pauline Glikman and Joseph Assouline, Payflows’ suite of finance tools is designed to streamline workflows and provide a collaborative, automated experience that integrates seamlessly with existing accounting systems.
The platform offers:
- Real-time visibility: It allows a finance team to work together with real-time visibility of open requests, POs, invoices, and payments, without needing a licence to any other system.
- Smoother collaboration: The platform breaks down silos and allows employees to see the progress of tasks at all stages, with a user experience akin to consumer tech.
- Increased productivity: It also allows finance teams to take advantage of automation and AI tools that increase their productivity.
Pauline says, “We designed Payflows as the missing piece in the CFO toolkit: a single platform for finance teams to sync and orchestrate data across all their Enterprise Resource Planning tools and financial systems, with automation and collaboration at the core. With Payflows, payment, cash management, procurement, and cash collection workflows can be modified in seconds—no code required—directly by the finance team, without the need to hire developers or expensive consultants. We give the modern finance team the real-time control they deserve.”
Payflows provide solutions for mid to upper-stage growth companies facing complex regulations and operations across multiple markets and currencies.
The platform is designed to integrate with legacy ERP tools and offers a cost-effective way to select product modules that combine to form a fully integrated financial system.
“The appetite from finance teams was large from the start and we’ve been growing through word of mouth. There’s a global need for a solution like this which recognises the crucial role that finance functions to play,” adds CEO Pauline.
The investor
Balderton Capital is a multistage venture firm with over two decades of experience supporting Europe’s best founders from Seed to IPO.
The VC has both early and growth funds and invests across the technology sector, with a proven track record backing fintech, B2B SaaS, digital health, mobility, gaming, and marketplace companies.
Rana Yared, General Partner, Balderton Capital, says, “The CFO tech stack is overly complicated, and growing businesses are increasingly in need of solutions to streamline and optimise their financial tools and workflows. Payflows is building a modular platform that enhances visibility and collaboration for finance teams, accelerating productivity and cutting costs. We’re delighted to be working with Pauline and Joseph who have built an exceptional business that solves a very real and pressing challenge for CFOs. ”
Read the orginal article: https://siliconcanals.com/news/startups/paris-based-payflows-raises-25m/
