With a record HR collection of € 254 million, Payfit is now valued at € 1.82 billion and thus becomes the 23rd French unicorn. With this fundraising, Payfit wishes to strengthen its existing markets, starting with France.
PayFit, payroll automation and human resources management solution, just did a Record fundraising for a French HR start-up. The financing round, of 254 million euros in Series E, was led by General Atlantic and the historical investors Eurazeo, Accel and Bpifrance through its Large Venture fund.
Objective of the start-up founded in 2015: recruit 400 people by 2022, develop your offer and strengthen your presence with French SMEs – in that day, PayFit equips more than 6,000 companies. You want to facilitate payroll and HR management, in a context ofacceleration of the need for digitization in companiess, linked to the pandemic.
This new fundraising should allow the company to support its development in its existing markets, in particular by offering its technology to two million French SMEs and hiring 400 people in 2022.
PayFit also intends to further improve its payroll automation software and develop its human resource management offering (tracking work time, vacations, expense reports, etc.). In particular, it will launch a tool dedicated to evaluation interviews.
Acceleration of the need for digitization in companies
Created in 2015, PayFit currently equips more than 6,000 companies, 88% more since 2020. A member of the Next 40 – future technological leaders identified by the government -, it had raised more than 179 million euros to date. Its last round of financing of 90 million euros, carried out in April 2021, allowed it to continue developing the HR solution, confirm its leadership position in the sector in Europe and hire 300 people in 2021. To date, the commissioning in march up, which is aimed especially at SMEs, is established in France, Germany, the United Kingdom and Spain.
Our launches in the United Kingdom, Spain and Germany have allowed us to consolidate the strength of our offer and our capacity to expand. Today, we have chosen to rely on the funds raised to develop our existing markets, where our growth potential is immense. With PayFit, we have built a healthy business, with a profitable model, where people are happy to work and that can have a real impact on your customers. This lift should allow us to continue the rapid growth that we have had from the beginning.
Firmin Zocchetto, CEO and co-founder of the company
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