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Cloud-native payment processing firm Silverflow has raised $40 million (€37 million) in a Series B funding round as the company approaches one billion transactions processed annually and prepares for a major global expansion.

The investment round was led by Picus Capital with participation from Rabo Investments alongside existing investors including Inkef, Crane Venture Partners, Coatue Management and Global PayTech Ventures.

The funding will be used to accelerate Silverflow’s international growth, expand its product capabilities and significantly increase its global workforce as the company seeks to modernise payment infrastructure traditionally dominated by legacy systems.

Founded to modernise the payment processing layer used by banks and fintech companies, Silverflow positions itself as the first fully cloud-native platform designed specifically for card networks.

Anne Willem De Vries, chief executive and co-founder of Silverflow, said the latest funding reflected a growing shift in the payments industry away from older processing technology.

“This investment is a clear validation that the market is ready to move past the legacy drag of outdated systems,” he said.

“We’re the only cloud-native company targeting this specific layer of the payments ecosystem. This capital ensures we can cement our position as the new global standard for payment processing.”

Unlike traditional payment processors that rely on decades-old infrastructure, Silverflow’s technology is built entirely in the cloud, allowing banks and payment providers to connect through a single API rather than a patchwork of systems.

The company says this architecture allows customers to launch new payment products faster, simplify operations and scale internationally without the technical complexity associated with legacy payment platforms.

Silverflow’s growth over the past two years has been particularly striking. The company reports that transaction volumes have expanded dramatically since its early commercial rollout.

Just two and a half years ago, the platform processed around 180 transactions per day. Today that figure has climbed to almost 1.75 million daily transactions, highlighting both the rapid adoption of its technology and the scalability of its cloud-based infrastructure.

At its current trajectory, Silverflow is approaching one billion transactions annually and expects to soon process more than $100 billion in payment volume each year.

The platform’s client base includes acquiring banks, payment companies and fast-growing digital commerce platforms across Europe, North America and Asia-Pacific.

Among its customers are global financial institutions and fintech players including Deutsche Bank, Bolt, Payabl and Buckaroo.

The new capital will support a major expansion of Silverflow’s workforce as the company ramps up engineering and product development.

Silverflow currently employs around 85 staff, but plans to grow its global team to approximately 120 employees, representing an increase of more than 50 per cent.

Recruitment will focus heavily on software engineering, product design and payments infrastructure specialists, areas considered critical as the company scales its technology platform.

Geographically, Silverflow intends to accelerate its international presence in several key markets.

In North America, the company will expand its operations in New York, strengthening relationships with acquiring banks and global commerce platforms.

At the same time, the firm plans to deepen its footprint in Southeast Asia, where digital payments adoption is growing rapidly and demand for modern processing infrastructure continues to rise.

Investors say the payments infrastructure market is undergoing a major transformation as financial institutions look to replace outdated systems with cloud-based alternatives.

Florian Reichert, partner at Picus Capital, said Silverflow’s growth demonstrated a strong market demand for modern processing solutions.

“The payments infrastructure market is dominated by monolithic, slow systems that stifle innovation,” he said.

“Silverflow has proven that a cloud-native, single-API architecture is not just an alternative but the inevitable evolution. The company’s growth and customer adoption show that the market urgently needs a modern processor.”

Floris Onvlee, director of corporate venturing at Rabo Investments, added that the investment also supports the emergence of European fintech champions capable of competing globally.

“As an EU-based investor, we’re proud to support Silverflow as a European technology leader as it expands worldwide,” he said.

In addition to geographic expansion, Silverflow plans to broaden the range of card networks supported by its platform.

The company already integrates with major global card schemes including Visa, Mastercard, American Express, Discover and Diners Club International.

Following the Series B investment, Silverflow plans to add support for additional networks such as China UnionPay and JCB.

The company will also introduce new user interfaces and front-end tools designed to make its data-rich API infrastructure easier for developers and financial institutions to use.

These enhancements will support new capabilities across both online and in-store payments, expanding Silverflow’s role across the full payment transaction lifecycle.

Silverflow’s long-term ambition is to simplify what it describes as the fragmented global payments ecosystem, where banks and fintech companies often rely on a complex mix of processors, gateways and card network integrations.

By providing a single cloud-native processing layer, the company hopes to enable financial institutions to launch new payment capabilities more quickly while improving reliability and transparency.

For De Vries, the latest funding round represents not just financial backing but validation of the company’s strategy.

“It’s not just about raising capital,” he said. “It’s about having the resources to build infrastructure that helps our customers move faster, simplify complexity and grow globally.”

With digital payments continuing to expand worldwide, investors believe companies capable of modernising the underlying infrastructure will play an increasingly central role in the global financial system.

Workers at luxury fashion retailer Net‑a‑Porter are set to vote on potential strike action after being told their wages will fall short of the London Living Wage, despite what unions say was a previous commitment by the company to adopt the rate.

More than 100 warehouse staff at the company’s fulfilment centre in Charlton, southeast London, will take part in a formal ballot organised by the GMB. The vote will determine whether employees move forward with industrial action in a dispute centred on pay levels and living costs in the capital.

The row comes at a sensitive time for the luxury online retailer, which recently completed a redundancy consultation across parts of its operations.

According to the GMB, Net-a-Porter had committed in 2021 to paying staff the London Living Wage, a voluntary rate calculated annually to reflect the cost of living in the capital.

However, the union claims the company has now proposed a lower hourly rate for its lowest-paid warehouse workers. Under the current offer, staff would receive £14.41 per hour, which the union argues falls short of the level required for workers to maintain a reasonable standard of living in London.

The London Living Wage is set independently by the Living Wage Foundation and is widely adopted by employers seeking to demonstrate fair pay practices in high-cost regions such as London.

Union representatives say the dispute has intensified frustration among warehouse staff already facing heavier workloads and rising household costs.

Craig Prickett, regional organiser for the GMB, said employees were feeling the impact of increasing living expenses and organisational changes within the company.

“For a luxury fashion brand serving wealthy customers around the world, it is simply unacceptable that the people doing the work are struggling to make ends meet in London,” he said.

“Workers are already dealing with rising costs and increasing workloads following the recent restructuring.

“Instead of recognising their contribution, the company has offered a pay proposal that keeps wages well below what is needed to live in London.”

Prickett added that union members would prefer to resolve the dispute through negotiation rather than industrial action, but warned staff were increasingly frustrated.

“GMB members do not want to take strike action, but they deserve fairness, respect and a wage that reflects the cost of their lives in the capital,” he said.

Net-a-Porter operates as part of the global luxury ecommerce sector, selling high-end fashion items and designer accessories to customers worldwide. Products sold through the platform frequently carry premium price tags, with items ranging from handbags costing £9,000 to couture dresses priced above £14,000, as well as jewellery valued at more than £150,000.

The contrast between the company’s luxury positioning and the pay dispute has become a central argument in the union’s campaign.

The Charlton warehouse plays a key role in the retailer’s logistics network, handling orders and shipments for customers across the UK and international markets.

The dispute also follows a recent redundancy process within the business. According to the GMB, some employees who volunteered for redundancy during the consultation were told they could not leave because their roles were considered critical to the company’s operations.

Union representatives say this has contributed to increased workloads for remaining staff, who are now being asked to handle higher volumes of orders during peak trading periods.

The combination of heavier workloads and wage concerns has heightened tensions between employees and management.

The outcome of the strike ballot will determine whether warehouse workers move forward with industrial action.

If members vote in favour, the GMB could coordinate strike activity or other forms of protest in an attempt to pressure the company into revisiting its pay proposal.

Industrial action in the logistics operations of a major online retailer could potentially disrupt fulfilment processes and order deliveries, particularly during busy retail periods.

For now, union officials say they hope the dispute can still be resolved through dialogue before any strike action takes place.

“We want the company to recognise the value of its workforce,” Prickett said. “These workers keep the business running, and they deserve a wage that reflects the cost of living in London.”

Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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