News

Adyen daughter company gets €3M to disrupt payment industry

The technology will be launched in early 2021

Adyen

Adyen daughter company gets €3M to disrupt payment industry. Source: shutterstock.com

Silverflow has announced a €2.6 million seed funding round, Ecommerce News reports. This way, founded by Adyen company has now raised €3 million in total funding.

The funding round was led by Crane Venture Partners with participation from INKEF Capital and angel investors and industry leaders from Pay.On, First Data, Booking.com, and Adyen.

Silverflow was founded by Anne-Willem de Vries (who was part of Ayden’s cards acquiring team), Robert Kraal (former COO at Adyen), and Paul Buying (founder of translation startup Livewords).

The company says it will launch its card payments processing technology in early 2021. The fresh capital will be used to double its current team of five employees by the end of this year, adding new developers and a commercial director.

Today’s card payment infrastructure is based on 30 to 40-year-old technology that’s still in use across the global payment landscape. The payment technology infrastructure costs everyone time and money: consumers, merchants, payment-service-providers, and banks. We founded Silverflow with the belief that the payments technology stack needs an upgrade
Anne Willem de Vries, CEO 

We’ve reported that Adyen has announced the rollout of the Giving product feature that enables its merchants to accept donations during online and in-store checkout process.

SEE ALSO:

Pay Space

6971 Posts 0 Comments

Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.