Amsterdam-based Silverflow, a payment processing technology startup, has raised €15M in a fresh round of funding led by Global Paytech Ventures, featuring participation from Picus Capital, Coatue, Crane Venture Partners, Inkef, and various angel investors.
According to Silverflow, the funding round resulted in a valuation that’s “substantially higher” than the company’s Series A valuation in 2021.
Former Mastercard Europe CEO and founder & MD of Global Paytech Ventures, Javier Perez says, “Silverflow presents a unique opportunity for enabling both legacy and new players of any kind to have access to deploy the most modern, secure and efficient payments processing platform to acquirers, PSPs, PayFacs and merchants to enable them to outperform existing legacy players.”
Silverflow will use the money to accelerate its global expansion plans. This strategic move follows the company’s entry into the US and APAC markets earlier in the year, during which the company secured new customer contracts in these regions.
“The next evolution in payment technology”
Silverflow mentions in a statement that in the payments industry, players like Adyen, Stripe, and Paypal have revolutionised the front end, enhancing user-friendly solutions. However, backend payment processing, relying on outdated technology, has seen limited innovation.
This is where Silverflow looks to make a difference.
Silverflow founders introduced a groundbreaking approach, offering a single platform for acquirers, PSPs, PayFacs, and large merchants. This platform consolidates card scheme data and functionality, offering a streamlined solution for modern payment processing.
Co-founder Anne Willem de Vries says, “Our biggest challenge has been getting customers to believe this technology is real. They often tell us it’s too good to be true. It’s hard to fathom that after utilising the same technology for 30-40 years Silverflow has taken the time to build something better that solves these complex issues for our customers.”
Silverflow’s payment processing platform is crafted for current and future payment demands. As a cloud-native solution with a unified API to card networks, it simplifies the process with a single connection on one platform.
In just four years, the company has garnered major clients across Europe, North America, and APAC, including industry leaders such as Deutsche Bank, Transaction Services, Buckaroo, and PAYABL, among others.
Brief about the founders
Silverflow was founded in early 2019 from discussions between co-founders Robert Kraal and Anne Willem de Vries.
Kraal, with over two decades of experience in online payments, previously served as Adyen’s COO in 2010. De Vries, specialising in card payments, contributed to Adyen’s cards acquiring team during his tenure.
The founding team comprises Anne Willem de Vries, Paul Buying, and Robert Kraal.