Prague-based Flowpay raises over €2 million to make SME financing more accessible through embedded finance
Summary
Flowpay, a Czech fintech using predictive AI models, automation and Embedded Finance to help small and medium-sized enterprises (SMEs) access better operational funding, has raised €2,1 million in its seed round. Flowpay is a prime example of a new generation of tech-driven companies that enable fast and cost-effective funding of smaller loans for the SME segment,” said Allard Luchsinger, Managing Director Techstars. Flowpay shortens the time needed to evaluate credit applications to mere minutes, increases the accuracy of risk assessment, and speeds up access to finances for SMEs. This approach represents a revolution in financing, supports dynamic growth, and contributes to the sustainable prosperity of our economy,” added Hynek Sochor, founder of the accelerator and fund Soulmates Ventures. This approach opens up partnership possibilities in the realm of Embedded Finance as a mutually beneficial solution, reinforcing Flowpay’s position as a technological organization,” commented Michal Ciffra, partner at DEPO Ventures.