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Silverflow raises $17 million to accelerate payments modernisation

Silverflow raises $17 million to accelerate payments modernisation

Silverflow, a Dutch payments technology firm founded by industry veterans, has raised $17 million in Series A funding.

Led by Coatue Management, previous investors Crane Venture Partners and Inkef Capital also participated in the round, along with Global Paytech Ventures and angel investors Jason Gardner, founder and CEO of Marqeta, and Gokul Rajaram, a former Square product lead and current Coinbase board member.

Silverflow’s cloud-based platform provides a state-of-the-art upgrade and direct access to the card networks for payment services providers, merchants, and acquirers.

The firm's founding team includes CEO Anne Willem de Vries, previously focused on card acquiring and processing at Adyen; CBDO Robert Kraal, former Adyen COO who previously worked at RBS/Worldpay and Bibit; and CTO Paul Buying, founder of the translation startup Livewords.

Having launched the product earlier this year, Silverflow has attracted Deutsche Bank, PayU, and IXOPay as customers.

The firm says the investment will be used to grow the team from 24 to 70 people over the next two years, expand into the US, and strengthen the company’s balance sheet.

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