Payflow is a fintech company founded in Spain in 2020 that allows employees to access their already-earned salary at any time during the month. Its solution, offered through companies as a financial wellbeing benefit, operates under a B2B SaaS model and is already present in Spain, Portugal, Colombia and Peru.
| Startup | Payflow |
| Sector | Fintech · B2B SaaS · Financial wellbeing |
| Founded | 2020 · Spain |
| Stage | Scaleup · international expansion |
| TSCFO services | External CFO · Accounting |
| Main challenge | Consolidating the financial information of a group with seven entities across four countries |
| Solution | Management accounts · consolidated statements · IFRS · CFO support · Holded |
| Key result | Consolidated financial base for seven entities across four countries |
— 01 · STARTING POINT
Organizing the accounts of a multinational group
In the context of international growth, Payflow needed to structure and consolidate the financial information of all its subsidiaries under one robust accounting view, aligned with financial best practices.
The company operated in four countries and had seven legal entities, which meant integrating balance sheets, P&Ls and cashflows both individually and at group level.
The team also needed to reorganize historical information to analyze trends, compare business evolution and reinforce financial transparency ahead of future audits, investors or strategic decisions.
— 02 · WHAT WE DID
Rebuilding the group’s financial base
After a first stage working as CFO, The Startup CFO collaborated again with Payflow on a new challenge: rebuilding and organizing the group’s financial information.
Over three months, we led an integral project to rebuild historical management accounts, prepare individual and consolidated financial statements, and design a coherent accounting logic to classify thousands of transactions.
The goal was to build a robust, clear and actionable financial set that would allow the internal team to make decisions with better information and rely on a base prepared for audit and reporting.
Management accounts
Reconstruction of the group’s historical management accounts from the start of operations through 2024, organizing financial evolution in a comparable way.
Consolidated statements
Preparation of consolidated balance sheet, P&L and cashflow, together with the individual statements of each group entity.
IFRS and accounting structure
Support in preparing a consolidated balance sheet under IFRS and defining consistent accounting criteria for the group.
— 03 · FINANCIAL STRUCTURE
A recurring collaboration with the internal team
Following the project, the relationship with Payflow evolved into a recurring collaboration. The Startup CFO now supports the company through a flexible monthly service, giving the team access to CFO advisory hours whenever they need to solve strategic questions, prepare financial models or validate key decisions.
This setup allows the internal finance team to maintain operational autonomy while relying on a specialized external partner when the context requires it.
A pilot project was also launched to integrate international accounting into Holded, with the goal of using the tool as an internal verification system in Spain and improving the group’s financial control.
— 04 · RESULTS
A financial base ready to scale
7 entities
Consolidated base across Spain, Portugal, Colombia and Peru
Financial statements
Balance sheet, P&L and cashflow organized by entity and group
Recurring support
Flexible CFO support for decisions and financial models
Payflow is a clear example of how a well-designed financial structure can support the growth of an international technology company. In groups with several entities and countries, the quality of financial information becomes essential for making decisions with clarity.
The collaboration helped build a solid control base, aligned with international standards and useful for the company’s next stages of growth. More than organizing accounts, the goal was to give the team a reliable financial view from which to keep scaling.
