Payfit announced that they’ve raised a €90 million (£77 million approx.) series D funding to continue their ambition to simplify payroll and human resource management for all European SMEs. The investment round follows on 40% growth in 2020 and has been led by Eurazeo Growth, Large Venture and BPI France with participation and support from existing investors including Accel, Frst and French billionaire Xavier Niel.
co-founder and CEO, Firmin Zocchetto, explains: “As a result of the pandemic, HR professionals have faced a much higher workload and unfamiliar challenges. They have had to deal with various issues, including supporting the company’s management with the implementation of remote work policies and ensuring employee wellbeing through new initiatives. There are still tens of millions of SMEs that want to go digital. The market is huge, and our ambition remains the same: to become the point of reference for payroll and HR management for all SMEs.”
The latest investment will support the development of a comprehensive HR solution, consolidate the existing offer and support their hypergrowth by increasing headcount from 550 to 800 by the end of this year.