Bengaluru Fintech PayFlow Raises $120M Series C to Dominate B2B Payments Across Southeast Asia
PayFlow, a Bengaluru-based fintech startup, has secured $120 million in Series C funding led by Sequoia Capital to expand its B2B payment infrastructure across Southeast Asia.
PayFlow, a Bengaluru-based financial technology startup, has announced the successful close of a $120 million Series C funding round led by Sequoia Capital India, with participation from Tiger Global, Accel Partners, and existing investors. The round values the company at $850 million.
Business Model
PayFlow has built a B2B payment infrastructure that enables businesses to send and receive cross-border payments across 12 countries in Southeast Asia with same-day settlement. The platform processes over $2 billion in transactions monthly and serves more than 15,000 businesses.
Use of Funds
The company plans to use the funding to expand into Vietnam, Philippines, and Indonesia, while also investing heavily in its compliance and regulatory infrastructure.
Market Opportunity
The B2B cross-border payments market in Southeast Asia is estimated at $1.5 trillion annually, with most transactions still relying on slow correspondent banking networks with fees averaging 3-5% per transaction. PayFlow charges 0.5-1%.
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