PayFit, a French provider of a payroll and HR management solution for SMEs, raised €254M in Series E funding. General Atlantic led the round with participation from existing investors Eurazeo, Bpifrance and Accel Ventures.
Firmin Zocchetto, CEO and cofounder of PayFit explained: “PayFit’s expansion beyond France into the UK, Spain and Germany demonstrated further validation of our innovative offering and our capacity to scale up. As we look ahead, we plan to use these new funds to deepen our presence in our existing markets, where we have significant growth potential. At PayFit, we are proud to have built a company with strong foundations, where people are happy to work and that can have a real impact on our clients. This Series E funding will allow us to maintain the rapid growth we have achieved since our founding.”
PayFit provides a next-gen payroll solution that automates complex and time-intensive HR processes, particularly for underserved small and medium-sized enterprises (SMEs). Its proprietary technology platform enables HR managers, finance managers and business owners to conduct payroll calculations in markets with complex regulatory requirements.
PayFit plans to use the funds to recruit additional top talent, accelerate the development of innovative new products, and increase its market share across Europe.
Announcement: PayFit Raises €254M for HCM Platform