Payflow announced closing a $9.1 million Series A funding round co-led by Seaya Ventures and Cathay Innovation.

Payflow, a Barcelona, Spain-based SAAS developer of a payroll software tool, announced a $9.1 million funding round, in series A.

The money was raised from investors co-led by Seaya Ventures and Cathay Innovation joined by Force Over Mass Capital, Y Combinator, and angel investors Steve Huffman from Reddit, Max Mullen from Instacart and Sebastian Mejia from Rappi via the Rebel Fund.

Payflow, founded in 2020 by Benoît Menardo and Avinash Sukhwani, developed a software solution for companies allowing employees to instantly collect the portion of their salary corresponding to how much they have worked, through a mobile app. The company says that it has more than 175+ clients covering 100,000 users, including Scalpers, Natura and Aravinc.

Payflow is one the European startups that were part of Y Combinator in the summer of 2021 and also was one of the interesting Euro startups part of YC21 summer program as featured by Nordic 9. It previously raised from the French Family Office Financierè Saint James in the summer of 2021, was seeded with €2 million by CaixaBank, Telefonica's Wayra and Plug and Play in February 2021 and raised €1.6 million in 2020.