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PayFit achieves unicorn standing after €254m in Collection E

France-based payroll and HR automation start-up PayFit has raised €254 million in a Collection E funding spherical, making the paytech a unicorn.

PayFit is now a unicorn following Collection E spherical

In March 2021, PayFit secured €90 million in a Series D funding spherical. The earlier funding spherical closed in 2019, with €70 million.

Earlier traders Eurazeo Progress, BPI France and Accel participated within the newest spherical alongside new investor Basic Atlantic.

Asserting the funding spherical, PayFit says it has “huge targets” for 2022, together with strengthening its payroll resolution and simplifying its payroll and HR processes for SMEs throughout Europe.

The corporate additionally signaled it needs to proceed to offer the “finest buyer assist and experience to our prospects” and rent 400 new workers throughout France, Germany, Spain and the UK.

The corporate’s tech centralises payroll, HMRC submissions, absences and holidays, expense reviews, worker onboarding and worker contact data. It additionally gives related information evaluation to establish gender pay gaps in organisations.

Based in 2016, PayFit counts Revolut, Starling Financial institution, and Treatwell amongst its buyer base and operates in France, Germany, Spain, Italy and the UK.

PayFit has places of work in Paris, Berlin, Barcelona and London.

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