• Home
  • About
  • Contact us
Tech News, Magazine & Review WordPress Theme 2017
  • Computing
  • Entertainment
  • Gaming
  • Mobile
  • Science
  • Security
  • Services
  • Software
  • Space
No Result
View All Result
  • Computing
  • Entertainment
  • Gaming
  • Mobile
  • Science
  • Security
  • Services
  • Software
  • Space
Technovanguard — Be at the forefront of technology news
No Result
View All Result

PayFit raises €254m in funding to become France’s latest unicorn

Justin Rowell by Justin Rowell
29.09.2022
Home Computing

PayFit, a Paris-based software company that aims to simplify payroll and HR management for SMEs, has raised €254m in a Series E funding round announced today (6 January).

The latest funding values PayFit at €1.82bn, making it France’s latest unicorn and the one of the first in Europe in 2022.

Since the pandemic started, companies have been hiring more employees based around the globe with the option to work from home. This has led to new complexities in payroll and HR management that are often hard for small teams to overcome.

PayFit aims to help these companies by automating manual tasks and streamlining payroll and HR systems – with the goal of saving SMEs time and money, allowing them to focus on business growth.

The fresh funding was led by New York-based investment firm General Atlantic with participation from existing investors Eurazeo, Bpifrance and Accel. It will be used to add 400 new employees to the PayFit team over the next year, invest in the development of new products and increase PayFit’s market share in Europe, which is home to around 24m SMEs.

PayFit expansion

Since its founding in 2015, PayFit has bagged more than 6,000 clients and expanded beyond France into Germany, Spain and the UK. It currently has 700 employees based across offices in Paris, Berlin, Barcelona and London.

“PayFit’s expansion beyond France into the UK, Spain and Germany demonstrated further validation of our innovative offering and our capacity to scale up,” said Firmin Zocchetto, co-founder and chief executive of PayFit.

“As we look ahead, we plan to use these new funds to deepen our presence in our existing markets, where we have significant growth potential,” he added.

In 2020, PayFit’s then vice-president of engineering, Pierre-Alain Bouchard, told SiliconRepublic.com that the “consumerisation” of HR, along with advancements in big data and machine learning, is changing the face of the payroll industry. “As they mature, they give us new sets of tools with which to fine-tune the experiences of our customers,” he said.

Last year, Europe led the world in a global tech unicorn boom, and France was no exception to the trend. Sorare, Ledger, Shift Technology and Vestiaire Collective, among others, all crossed the billion-dollar valuation mark in 2021 to become some of France’s hottest start-ups.

Don’t miss out on the knowledge you need to succeed. Sign up for the Daily Brief, Technovanguard’s digest of need-to-know sci-tech news.

The post PayFit raises €254m in funding to become France’s latest unicorn appeared first on Technovanguard.


Next Post
Norton 360 Now Comes With a Cryptominer

Norton 360 Now Comes With a Cryptominer

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

You can monitor any flight directly from the Messages app on your iPhone

You can monitor any flight directly from the Messages app on your iPhone

29.09.2022
‘Lurker’ Probes & Disappearing Stars

‘Lurker’ Probes & Disappearing Stars

29.09.2022

Trending.

Netflix’s vampire movie Day Shift adds real bite to a classic action throwback

Netflix’s vampire movie Day Shift adds real bite to a classic action throwback

30.03.2023
Staying Ahead of the Game: The Top 10 Most Popular Websites for IT and Modern Technology

Staying Ahead of the Game: The Top 10 Most Popular Websites for IT and Modern Technology

30.01.2023
Travel Business and Content Marketing: A Match Made in Heaven

Travel Business and Content Marketing: A Match Made in Heaven

07.02.2023
Join MDM for a holiday happy hour in Austin on December 16th

Join MDM for a holiday happy hour in Austin on December 16th

29.09.2022
The creator of Celebrity Deathmatch looks back at the versus show’s weirdest highlights

The creator of Celebrity Deathmatch looks back at the versus show’s weirdest highlights

29.09.2022
Technovanguard — Be at the forefront of technology news

Technovanguard - The latest news from the world of IT and modern technologies.

Categories

  • Computing
  • Entertainment
  • Gaming
  • Internet
  • Mobile
  • Science
  • Security
  • Services
  • Software
  • Space
  • Без рубрики

Tags

best bitcoin casino best bitcoin gambling site best crypto casino bitcoin gambling site btc casino FEATUREDNEWS linkedin connection message linkedin connection request template linkedin connect message examples linkedin networking message template linkedin sales message top bitcoin casinos

Recent News

Ukrainian Soldier on Prosthesis to Participate in 2023 TCS London Marathon

Ukrainian Soldier on Prosthesis to Participate in 2023 TCS London Marathon

28.03.2023
Talents on AI: Kyiv to Host Three-Day Hackathon Connecting Developers and Sponsors in May 2023

Talents on AI: Kyiv to Host Three-Day Hackathon Connecting Developers and Sponsors in May 2023

07.03.2023
  • Home
  • About
  • Contact us

© 2021 technovanguard.com. Submit news release

No Result
View All Result
  • Computing
  • Entertainment
  • Gaming
  • Mobile
  • Science
  • Security
  • Services
  • Software
  • Space

© 2021 technovanguard.com. Submit news release