Paris-founded HR and payroll startup PayFit secures €70 million

French HR tech startup PayFit has landed €70 million in a funding round led by Eurazeo and Bpifrance, with participation from prior investors Accel, Frst, and Xavier Niel. This capital injection brings the total amount raised by the company to €83 million.

PayFit has developed a SaaS payroll and HR platform that’s focussed on the needs of small and medium companies. Founded in 2019, the company stated that it currently serves more than 3,000 SMEs in France, Spain, Germany, and the UK.

The startup plans to use the funding to open more offices across Europe, double its workforce to 600 in 2020, and further grow to 1,000 employees in 2021. This year, PayFit expects to open an Italian office and hire a head of country for the UK.

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