Silverflow raises $40m Series B to scale cloud payment processing

Netherlands-based cloud-native outgo processor Silverflow has closed a $40m (€37m) Series B backing circular led by Munich-based Picus Capital.

Rabo Investments - Corporate Venturing besides participated successful the round, alongside existing investors Inkef, GPT, Crane and Coatue.

Silverflow connects straight to paper networks via a azygous API, providing an alternate to an alternate to “legacy processing technology”.

The institution volition utilise the proceeds to enactment planetary growth, grow its merchandise suite and summation headcount.

The outgo processor plans to turn its workforce by much than 50%, from 85 employees to astir 120, with a absorption connected bundle engineering and merchandise development.

Geographically, the concern plans to accelerate enlargement successful North America by strengthening its New York office. It besides aims to further found its beingness successful Southeast Asia.

Silverflow CEO and co-founder Anne Willem De Vries said: “This concern is simply a wide validation that the marketplace is acceptable to determination past the ‘legacy drag’ of outdated systems.

“We’re the lone cloud-native institution targeting this circumstantial area, and this superior volition guarantee we cement our presumption arsenic the caller modular successful outgo processing globally.

“It’s not conscionable astir raising wealth – it’s astir having the resources to physique the infrastructure that helps our customers, including acquiring banks, outgo companies and commerce platforms, to determination faster and turn bigger.”

Over the past 2 and a fractional years, Silverflow said it has grown from processing astir 180 transactions per time to astir 1.75 cardinal daily. The institution attributed this to adoption and its cloud-native architecture.

Its customers see acquiring banks, outgo companies and commerce platforms operating crossed Europe, North America and Asia-Pacific. Named customers see Deutsche Bank, Bolt, Payabl., and Buckaroo.

Silverflow besides plans to widen enactment to further paper networks including China UnionPay and JCB. This volition adhd to its existing enactment for Visa, Mastercard, American Express, Diners, Discover and immoderate section debit networks.

The institution besides intends to make caller front-end tools and idiosyncratic interfaces to marque its APIs much accessible. Further, it volition grow its end-to-end offering to supply enhanced enactment for in-store payments.

"Silverflow raises $40m Series B to standard unreality outgo processing" was primitively created and published by Electronic Payments International, a GlobalData owned brand.

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