PayFit raises 254 million euros

Never before has there been a larger financing round at the HR tech start-up PayFit. The capital is also flowing into the German site in Berlin.

PayFit has received 254 million euros from its investors. US fund General Atlantic led the Series E funding round, and existing investors such as Eurazeo, Bpifrance and Accel Ventures also participated again. The valuation of the HR tech start-up increased to €1.82 billion. This brings PayFit to Unicorn status.

The company plans to use the capital to further develop its HR data and payroll software and expand its existing European locations. In France, Germany, Great Britain and Spain, 400 new employees are to be hired. At the Berlin site, the team is to be strengthened to over 120 employees, primarily in product development, customer service and sales. "The market launch in Germany, the UK, and in Spain has opened up many growth prospects for us. Therefore, we decided to use the new funds raised to develop our existing markets, where our growth potential is immense," says CEO and co-founder Firmin Zocchetto about PayFit's strategy.

PayFit originated in France. Firmin Zocchetto, Ghislain de Fontenay and Florian Fournier founded the start-up in Paris in 2015. Since 2018, the office has been in Berlin, and Germany is now the company's second-largest location. PayFit offers software that simplifies HR processes and payroll. According to the company, around 6,000 corporate customers use the product.