Silverflow, a global payment technology Dutch startup, has announced a €2.6 million seed funding round in October 2020, led by Crane Venture Partners. Other participants include INKEF Capital and notable angel investors and industry leaders from Pay.On, First Data, Booking.com and Adyen. With this round, the total fund raised by Silverflow has reached €3 million.
Silverflow comprises a five member team based in Amsterdam. The new seed funding round will enable it to double its team by the end of 2020, add new developers and a commercial director. Silverflow has been in the process of development over the past two years and will be ready to launch in early 2021.
For today’s technology, Silverflow is the first card payments processor built with a cloud-native platform. It has simple APIs and provides streamlined data flows directly integrated into card networks.
Silverflow is made for Payment service Processors (PSPs), acquirers and top-market merchants operating globally that hold €500 million to 10 billion in annual transactions. Customers don’t have to manage a complex network of acquirers across markets and keep dozens of bank and card network connections.
Anne Willem de Vries, CEO and co-founder of Silverflow said, “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.”
Currently, acquirers use traditional third-party processors like SIA, Omnipay, Cybersource or MIGS. Some companies like Adyen have built their own in-house processing platform, but Silverflow mentions that there are no other companies doing the same thing as them.
About Silverflow
Silverflow is a Dutch cloud-based processing platform that provides a state-of-the-art upgrade for payment-providers which shields them from the current obsolete technology that is still in use today. It was founded by experienced online payments industry players and seasoned startup founders CEO Anne-Willem de Vries, former card acquiring and processing at Adyen, CBDO Robert Kraal, former Adyen COO and EVP global card acquiring & processing at Adyen and CTO Paul Buying, founder of acquired translation startup Livewords. Silverflow will launch its innovative card payments processing technology in early 2021.
About Crane Venture Partners
Crane Venture Partners LLP is a Venture Capital firm that invests in software development companies. Krishna Visvanathan and Scott Sage founded it in 2015. Crane Venture Partners has its headquarters in England. Its clients are based in Europe.
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