Silverflow Secures $40 Million in Series B Funding
Silverflow, an Amsterdam-based company providing direct connections to card networks for payment service providers and merchants, has raised $40 million in a Series B funding round. The investment was led by Picus Capital, with participation from Rabo Investments - Corporate Venturing, Inkef, Global PayTech Ventures, Crane Venture Partners, and Coatue.
Company Overview
Founded by Paul Buying, Anne Vries, and Robert Kraal, Silverflow offers a cloud-native payment processing platform. This platform allows payment service providers, payfacs, merchants, and acquirers to connect directly to card networks, ensuring they remain up-to-date and can innovate within the payments space.
Use of Funds
The newly acquired funds will be used to accelerate Silverflow's global expansion and enhance its product offerings. The company plans to increase its workforce by over 50%, focusing on expanding its engineering and product development teams. This expansion will support Silverflow’s efforts to scale its operations, particularly in North America and Southeast Asia.
Growth and Expansion
Silverflow has experienced rapid growth, processing nearly 1.75 million transactions daily, up from around 180 transactions per day just two and a half years ago. The company is nearing one billion transactions processed annually. Its clients include major banks and commerce platforms such as Deutsche Bank, Bolt, Payabl., and Buckaroo across Europe, North America, and Asia-Pacific.
Future Plans
In addition to workforce expansion, Silverflow aims to extend its support for more card networks, including China UnionPay and JCB, alongside existing integrations with Visa, Mastercard, and American Express. The company also plans to develop new front-end tools to enhance the usability of its data-rich APIs and strengthen support for in-store payments.
Leadership Insights
Paul Buying, Co-Founder and CTO, emphasized the significance of this funding round in helping Silverflow solidify its position in the global payment processing market. "This investment is a clear validation that the market is ready to move past the ‘legacy drag’ of outdated systems," he noted.
With the backing of prominent investors and a strategic plan in place, Silverflow is well-positioned to continue its upward trajectory in the competitive fintech landscape.