Payflow
YC S21Madrid, ES · Founded 2020 · Delaware corporation · 50 employees · Hiring · 10 known investors
Payflow is a financial wellness platform for employers that enables employees to access earned wages on demand instantly and provides flexible compensation benefits through a mobile app and card. The platform serves companies looking to improve employee retention and reduce payroll processing costs.
Founders & leadership· Y Combinator alumni (S21)
Payflow was founded in 2020 by Avinash Sukhwai, Benoit Menardo, and Benoist Menardo.
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Avinash Sukhwaiin𝕏Co-founderAvinash Sukhwai is a co-founder at Payflow who previously worked at Rocket Internet and BCG. He studied at University of Cambridge, MIT, and Imperial College London.
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Benoit Menardoin𝕏Co-FounderBenoit Menardo co-founded Payflow after previous roles at Bain and Rocket Internet. He holds an MBA from INSEAD and undergraduate degrees from MIT and Mines Paris Tech.
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Benoist MenardoCo-founder
Board
CA
Cedric AsselmanBoard director
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Elisabet Faus MorrosBoard director
Investors · 10
Carolus InvestBarcelona
Cathay InnovationParis · $5M – $40M
Cats.vcVilnius · $200K – $500Kvia Yakov Kop · inferred
Cusp CapitalEssen · $7.6M
Extension FundMadrid
Rocket Internet SEBerlin
Sprint VcBangalore · $300
The E14 FundCambridge · $1M – $5M
Thomson Reuters VenturesNew York
Y CombinatorSan Francisco · $500K
Reported raises · per SEC filings
Form D private placements$18.9M disclosed across 1 round · 2025
▶$18.9MraisedSep 2025 · 51 investors · Other TechnologyRule 506(b)
▶$18.9MraisedSep 2025 · 51 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- Cedric AsselmanDirector
- Avinash SukhwaniExecutive Officer, Director
- Elisabet Faus MorrosDirector
- Benoist MenardoExecutive Officer, Director
- Offering amount
- $19.4M
- Amount sold
- $18.9M
- First sale
- May 2025
- Incorporated
- Corporation, Delaware, 2022
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
The YC application· Summer 2021 batch
Competitors · 4
by search overlap
Jetlore6 shared keywordsJetlore was a Palo Alto AI startup that turned unstructured retail product data into structured attributes so merchants could personalise what each shopper saw. Founded by Stanford researchers, it raised from Sierra Ventures, Alsop Louie Partners, Fenox Venture Capital, BRM Capital and Mercury Fund, and PayPal acquired it in 2018.
Zendesk5 shared keywordsThis is Zendesk's internal belonging/diversity and inclusion program page, not a company profile page for an external company. It describes Zendesk's internal culture initiatives and leadership development programs.
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Payflows4 shared keywordsPayflows provides a platform that centralizes and shares cash data across finance teams such as FP&A, accounting, and treasury, giving them independent access to treasury information. It targets corporate finance and treasury departments to reduce manual treasury workflows.
XFlow3 shared keywordsXflow offers an invoicing product that lets businesses create branded, customizable invoices with built-in global payment options, including automatically embedded bank transfer instructions. It also provides tools to track outstanding invoices and send payment reminders from a dashboard.
Companies competing with Payflow for the same Google search keywords, organic and paid, via search-intersection analysis.
In the news
Frequently asked questions
- What does Payflow do?
- Payflow is a financial wellness platform for employers that enables employees to access earned wages on demand instantly and provides flexible compensation benefits through a mobile app and card. The platform serves companies looking to improve employee retention and reduce payroll processing costs.
- Who founded Payflow?
- Payflow was founded by Avinash Sukhwai, Benoit Menardo, Benoist Menardo in 2020.
- Who are Payflow's investors?
- Payflow's investors include Carolus Invest, Cathay Innovation, Cats.vc, Cusp Capital, Extension Fund, Rocket Internet SE, Sprint Vc, The E14 Fund and 2 more.
- How much funding has Payflow raised?
- Payflow has disclosed $18.9M raised across 1 round.
- Where is Payflow headquartered?
- Payflow is headquartered in Madrid, ES.