Crane Venture Partners backs PayTech startup Silverflow

Silverflow, an Amsterdam-based online card payments platform founded by Adyen alums, has announced a €2.6 million seed funding round, led by Crane Venture Partners with participation from INKEF Capital and executives from Pay.On, First Data, Booking.com and Adyen.

The company has now raised €3 million in total funding. It has been in stealth mode for over two years and will be ready to launch in early 2021. The aforementioned cash will enable it to add new developers and a commercial director to its team.

Anne Willem de Vries, CEO and Co-founder, Silverflow, who was focused on card acquiring and processing at Adyen, comments: “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.”

Krishna Visvanathan, Partner at Crane Venture Partners, comments: “Our mission is to back entrepreneurs who are redefining the enterprise technology stack and Silverflow epitomises this as it relates to global card processing. Whilst payments power the digital economy, existing backend processing technology is old, costly and inflexible - and ripe for reinvention.”

“Silverflow’s founders are a powerhouse team of payments industry experts with a unique insight to building a product that transitions PSPs, acquirers, and merchants from inflexible legacy systems to a fully cloud native modern architecture.”

“We are proud to be supporting them as they launch and scale their card payments-as-a-service platform globally.”