Payflow — Startup Profile

Earned Wage Access for employees

HQ: Madrid, Spain | Founded: 2020 | Employees: 50 | Stage: Series B | Website: https://payflow.es

About

Payflow is an earned wage access platform allowing employees to access earned salary on-demand. B2B SaaS (employer pays; employees free). Integrates with 60+ HR/payroll systems. Covers 99%+ of payslips across 4 markets (Spain, Portugal, Colombia, Peru). Flexflow Mastercard for flexible benefits (food, transport, childcare). Founded by Avinash Sukhwani (MIT/Cambridge/BCG) and Benoit Menardo (MIT/INSEAD/Bain). YC S21. $94M raised ($24M equity + $27M debt). HQ Madrid.

The Take

Leading EWA player in Spain/LatAm. Strong traction (€6-8M ARR, 1K+ clients, 500K users). Large total funding ($94M). Rule of 40 consistently above 40%. Founders are MIT/Cambridge/BCG alum. Expanding into flexible benefits with Flexflow.

Key People

• Avinash Sukhwani
• Benoit Menardo

Key Competitors

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• —
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Timeline Highlights

• 2025-06: Raised €10M Series B from Cusp Capital
• 2023-07: Raised $27M debt from BBVA Spark
• 2022-01: Raised $9.1M Series A
• 2021: YC S21 batch
• 2020: Payflow founded

Recent News

• (2022-01-17)
• (2025-06-02)

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