FinTech investors continue to focus on the B2B segment.
In brief:
- Two former Luko employees have raised €25m in funding for their automated financial management startup Payflows.
- Balderton Capital led the Series A round, which also saw participation from existing investors Ribbit Capital, Headline, 20VC and French shopping mall Galerie Lafayette’s family office.
- Payflows aims to let finance teams keep track of all these processes in one easily customisable system. Rather than pushing entirely new infrastructure on CFOs, Payflows’ platform is deployed on top of companies’ existing accounting systems known as enterprise resource planning systems.
What does this mean?
“A lot of the software that’s been put into their hands is really difficult for employees to understand, in particular for employees beyond the accounting team” Co-founder Pauline Glikman tells Sifted. “It’s been built by accountants for accountants.”
