Payflow is a Barcelona based financial wellness startup which allows employees to get paid when they choose. Despite only launching 8 months ago, they have proved the relevance of their business model by striking up some important fund alliances to extend their seed round funding to E2 million.
Payflow is now used by more than 100 companies who claim it has been able to give their many thousands of employees financial freedom. The mobile app lets employees take the proportion of the salary they have earned whenever they choose, rather than waiting for a fixed payday. This model gives employees control over their money and lets them avoid risky products such as payday loans. Payflow also offers an interactive e-learning platform known as Learnflow to help employees achieve financial wellness.
Feedback suggests Payflow reduces employee turnover and increases productivity whilst being as important to people as other social benefits such as health insurance.