Payflip raises over 1 million euro in a funding round led by Smartfin
Ghent-based HR startup Payflip raises over one million euros in funding from Smartfin, the investment fund led by tech entrepreneur Jürgen Ingels, KBC, and PMV. Existing shareholder imec.istart also participated in the new investment round.
Brussels, 1 September 2023 – Additional holidays, a bicycle, Airpods, a second computer screen, an internet subscription, an upgrade to a company car, or pension savings – these are just a few examples of employee benefits that make a salary package a little more appealing for employees.
Payflip, the HR software company based in East Flanders that enables employees to customize and personalize their salary packages, has announced that it has raised 1.25 million euros from Smartfin, imec.istart, KBC, and PMV. The investment will be used to further expand the team in the short term and conquer the Belgian market.
“Flexibility is currently the norm in HR, and personalizing salary packages fits perfectly in the modern workplace environment,” says Maura Nachtergaele, CEO and Co-Founder of Payflip.
Founded in 2020, the company currently employs 15 people and serves more than 15,000 employees through its platform. Providing digital integrations for payroll, finance tools and benefit providers, Payflip aims to evolve the traditional “cafeteriaplan” into an all-in-one marketplace for employee benefits, a trend that is also becoming more popular abroad.
Companies that offer Payflip to their employees give more to their team without increasing personnel costs or HR administration, according to the passionate founding team. Filip Van Doninck, COO and Co-Founder of Payflip, emphasizes, “When employees have more say in their salary package, they show more engagement in the workplace. It’s as simple as that.”
“Payflip understands the evolving job market. Their innovative approach to personalized compensation is essential in today’s ‘war for talent’. We are excited to support the Payflip team in their mission to transform the landscape of salary solutions and meet the modern needs of both employees and employers,” says Jürgen Ingels, Founding Partner of Smartfin.
Payflip is an HR tech startup founded in 2020 by Maura Nachtergaele (CEO, 30 years old), Filip Van Doninck (COO, 29 years old), and Jon Lopez Garcia (CTO, 32 years old). Its team of 15 employees is based in Deinze and Brussels. With over 400 clients (employers) in its portfolio, Payflip provides personalised salary packages to approximately 15,000 employees. For more information, please visit https://www.payflip.be.
Smartfin is a Belgium-based investment fund managing approximately €500 million in assets that targets promising B2B technology companies headquartered in Europe and the United Kingdom. For more information, please visit https://www.smartfinvc.com.