Czech Fintech Firm Flowpay Raises €2.1 Million in Seed Round

With the help of Techstars, Czech fintech firm Flowpay has received €2.1 million in a seed round, allowing them to expand AI-powered financial solutions for SMEs. The investment will enable Flowpay to enhance its technological capabilities and reach a larger segment of the SMEs market.

Founded by William Jalloul, Flowpay utilizes artificial intelligence to evaluate risk and provide quick and affordable funding for SMEs based on their actual operational data. The company aims to become a global leader in providing financial solutions for SMEs, using precise data to digitize and automate procedures. The funding will also allow Flowpay to better meet the unique requirements of each business by offering more customized loan solutions.

Flowpay's platform integrates solutions into platforms that SMEs currently use for daily business operations, leveraging the power of AI to handle loans quickly and efficiently. The company has demonstrated the capacity to transform the SME lending landscape and has received recognition, including the Technological Startup of the Year award at the Vodafone Idea of the Year competition.

With a vision to become a global leader in providing financial solutions for sole traders and SMEs, Flowpay aims to expand its technology and enter new areas, while growing its team to expedite development. The company's innovative approach and application of AI allow businesses to receive funding based on the analysis of actual operational data, overcoming the shortcomings of traditional bank loan assessments.