Spain-based Payflow announced an additional USD $2.42 million of Seed funding, bringing the total raised to $4.26 million.
On-demand pay has been a trend for four or five years in the US, with firms like DailyPay innovating early as stand-alone providers and payroll providers like Paychex building or integrating the capability right into their tech platforms. The capability provides access to earned wages before payday and can be a lifesaver for some employees that take advantage of the service.
$206 million was invested in payroll tech providers globally in 2020. Get the full report on all 2020 global HR technology VC, here.