With rising living costs, traditional pay cycles often fall short. Payflow (YC S21) provides frontline workers with instant access to their earned wages, thereby enhancing financial wellness.
Cusp Capital, acting as lead and sole investor, is investing €10 million in Payflow (YC S21), the leading Earned Wage Access platform in Spain and Latin America. Total equity raised now stands at €24 million, plus €27 million in debt financing (including €20 million from BBVA Spark).
“Cusp Capital shared our belief in sustainable scaling and not growth-at-all-cost. With a steady burn rate under €100k/month, we’ve attracted investors who value efficient execution and being EBITDA positive,” said Avinash Sukhwani, Co-founder of Payflow. “We were hugely oversubscribed in this round, with 4x more capital on the table than what we were looking for, we chose Cusp Capital for their strong conviction in our model and our sustainable growth strategy.”
The company looks to be a market leader in Spain and Latin America, with over 1.000 clients and “11 out of the 60 largest employers in Spain“, and is currently expanding internationally across Europe. Its client base includes brands such as Lidl, Mango, Decathlon, Five Guys, and many others.
Benoît Menardo , Co-founder of Payflow, adds: “We grew 70% in 2024 and our EBITDA is only marginally negative, this means we are performing very well in the Rule of 40 metric, consistently being above 40%”
Through Payflow’s mobile app, employees can access their accrued salaries at any time — a growing global shift known as Earned Wage Access (EWA) or On-Demand Pay (ODP). Cusp Capital was impressed by the team’s vision and execution capabilities. The company's commercial momentum and high social impact offer an outstanding value proposition and position Payflow (YC S21) as the leading EWA player in Europe. In line with one of its investment theses, Cusp Capital focuses on digital products for lower-income consumers and workers — a segment often overlooked by mainstream solutions. Payflow (YC S21) is specifically built for this audience, which is one of the reasons behind its strong growth potential.
Cusp Capital is excited to partner with Avinash Sukhwani, Benoit Menardo, and the entire Payflow (YC S21) team.
Learn more about the investment round here: https://lnkd.in/dBZjbiVu or explore how Payflow (YC S21) improves financial wellness for its users on their website: https://lnkd.in/eGYR76WK
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