Payflows Secures £21.5M Series A Led by Balderton Capital to Revolutionize Financial Management

Payflows, an AI-powered Software as a Service (SaaS) finance platform, has successfully secured £21.5 million in Series A funding, with the round being led by Balderton Capital, a prominent venture capital firm renowned for its investments in disruptive technology startups. The funding round also saw participation from existing investors, including Ribbit Capital, Headline, 20VC, and the family offices of notable figures such as Plaid’s founder and Galeries Lafayette.

Founded in 2022 by former executives of Luko, an innovative insurance company, Pauline Glikman and Joseph Assouline, Payflows has emerged with a mission to transform financial management for businesses by leveraging artificial intelligence (AI) and automation technologies. The platform has been meticulously developed over the past two years, operating in stealth mode and garnering a notable client roster including companies like Swile, a leading provider of employee benefit solutions, and Spendesk, a trailblazer in spend management solutions.

Payflows caters primarily to businesses situated within the mid to upper echelons of growth, particularly those grappling with intricate regulatory frameworks and multifaceted operations spanning across diverse markets and currencies. The platform addresses the pressing need for streamlining financial workflows by condensing various data sources encompassing accounts payable, accounts receivable, customer information, supplier details, payments, and cash flows into a unified interface.

With this substantial injection of capital, Payflows is poised to further enhance its platform's capabilities, invest in research and development initiatives, and expand its customer base globally. The Series A funding underscores investors' confidence in Payflows' innovative approach to revolutionize financial management practices for modern businesses, heralding a new era of efficiency, agility, and control in the realm of finance.