Following this announcement, the Software-as-a-Service (SaaS) platform Payflows will focus on leveraging the funds in order to expand its operation and overall business reach. The company also aims to meet the needs, preferences, and demands of its customers, clients, and partners in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
The funding round was led by Balderton Capital, with the additional participation from already existing investors Ribbit Capital and Headline.
Payflows is a company that was developed in order to build an operating system that integrates finance teams and workflows together for accounts receivable, accounts payable, clients, customers, suppliers, transactions, and cashflows.
Its system was designed to give finance teams the possibility to work together with real-time visibility of open requests, POs, invoices, as well as payments and transactions. This process will also take place without the need for a license to any other system. At the same time, the company will allow employees and workers to see the progress of tasks at all stages, with an improved user experience akin to user tech.
In addition, the company’s system was developed in order to provide finance teams with the opportunity to take advantage and benefit from automation and artificial intelligence (AI) tools, which were created in order to increase productivity and security.
Payflows’ platform and suite of solutions work with legacy Enterprise Resource Management (ERP) tools. This feature will offer customers and clients a cost-effective, secure, and optimised manner to combine in a fully integrated financial system.
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