Finance teams often grapple with achieving realistic outcomes due to their isolated approach during budgeting and planning. This siloed operation restricts collaboration with other departments. Additionally, outdated tools and platforms hinder efficiency, while the lack of real-time visibility into cross-organizational spending poses further challenges
Payflows, a Paris-based SaaS platform for finance teams, has announced a significant €25 million Series A funding round led by Balderton Capital, with participation from existing investors including Ribbit Capital, Headline, 20VC, and the family offices of Plaid’s founder and Galeries Lafayette.
Seamless integration and collaboration
Founded by former Airbnb and Luko executives Pauline Glikman and Joseph Assouline in 2022, Payflows is on a mission to transform finance team operations by providing a modular automation platform that seamlessly integrates with legacy ERPs. The platform offers mid-sized and growing companies a cost-effective solution to synchronise all finance workflows, starting with procurement and treasury.
Real-time insights
Historically, finance teams have grappled with siloed workflows and manual tasks, hindering productivity and collaboration. Payflows aims to address these challenges by offering a single source of truth for accounts payable, accounts receivable, customers, suppliers, payments, and cash flows. Through real-time visibility and smoother collaboration, finance teams can enhance productivity and decision-making while leveraging automation and AI tools.
CEO Pauline Glikman commented, “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.”
A single platform
With Payflows, CFOs can optimise their tech stack by selecting product modules individually, tailored to their specific needs. By overlaying existing ERPs, Payflows eliminates the need for multiple licenses and offers a unified platform for finance teams to orchestrate data across various systems. Moreover, Payflows empowers finance teams to modify workflows in real-time without the need for code, enabling agility and flexibility in adapting to evolving business requirements.
Addressing the needs of scaling companies
Targeting mid to upper-growth companies facing complex regulations and operations across multiple markets and currencies, Payflows fills a crucial gap in the market. The platform provides sophisticated solutions at a fraction of the cost compared to traditional offerings, making it an attractive proposition for companies seeking to streamline finance operations while navigating growth challenges.
Accelerated growth
Emerging from stealth after almost two years of growth, Payflows has already garnered significant traction, with clients including Swile, Ornikar, Spendesk, and Podimo. With an increasing demand for streamlined finance solutions, Payflows is poised for further expansion and innovation in the finance technology space.
“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 play,” CEO Pauline.
Investor confidence
Rana Yared, General Partner at Balderton Capital, highlights the pressing need for solutions that streamline financial tools and workflows for growing businesses, “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.”
