Payflow announced securing a fresh €1 million backed by the French Family Office Financierè Saint James

Payflow, a Barcelona, Spain-based SAAS developer of a payroll software tool, announced adding a new capital contribution worth of €1 million ($1.2M).

The money was raised from the French Family Office Financierè Saint James.

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 100 companies using its service, including Scalpers, Natura and Aravinc.

Payflow previously announced a €2 million round backed by CaixaBank, Telefonica's Wayra and Plug and Play in 2021 and raised €1.6 million in 2020.