12 September, 2023

Payflip raises fresh capital to grow further in Belgium

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Payflip has a bright summer behind it! Not only has the website been given a completely new look, it has also made real strides strategically. Payflip managed to raise more than one million in fresh capital from Smartfin Ventures II, the venture capital fund around fintech entrepreneur Jurgen Ingels, imec.istart, KBC and PMV, among others. Wanna know what we're up to? Read it below!

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Photo: Maura Nachtergaele, Filip Van Doninck, Jon Lopez Garcia

Flexible compensation (umbrella term to talk about cafeteria plan and mobility budget, among others) is on the rise, that much is certain! Employees today are on the edge of their desks when they get the chance to spend their year-end bonus on extra vacation days or a smartphone, to exchange bonuses for a bicycle or warrants, or to return their company car in exchange for repaying their mortgage loan. Flexibility is the new normal in HR, and personalizing the pay package fits perfectly into that picture!

And Payflip has known it! As the market leader in flexible benefits for SMEs, Payflip wants to move up a gear. We strive to evolve the traditional cafeteria plan into an all-in-one benefit marketplace, to which HR teams can entrust their vision and administration of employee benefits. Whether it's about flexible work benefits (e.g. extra IT material or vacation), mobility benefits (company car, public transport or bicycles), wellbeing benefits (insurance, sports, pension) or training, Payflip's digital integrations with payroll, finance tools and benefits providers take care of the operational work.

With this vision, Payflip aims to support HR teams of small and large companies to think strategically around compensation. A well thought-out pay policy is crucial to compete in the war-for-talent. A company that knows how to consistently translate its values into all aspects of its HR policy has an edge.

For example, Payflip's clients have been experimenting for some time with adding, among other things, referral bonuses (a bonus employees receive once they bring a candidate into the recruitment process) into the Payflip platform. By doing so, they encourage employees to be true ambassadors to the outside world. The same goes for budgets around sports or working from home. And our 15,000 users love it!

"Dream big" is thus also in the Payflip dictionary! The capital round that Payflip has recently successfully completed is intended to realize our vision as soon as possible and shake up the classic salary sector! Because salary ain't just numbers, right?  

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