PayFit, a payroll and HR management solution for SMEs, has raised EUR254 million in a Series E funding round led by growth equity firm General Atlantic.
Existing investors Eurazeo, Bpifrance and Accel Ventures also participated.
PayFit plans to use the funds to recruit additional top talent, accelerate the development of innovative new products, and increase its market share across Europe.
Since its founding in 2015, PayFit has gained over 6,000 clients, and has raised EUR179 million to date, prior to this funding round. Its EUR90 million Series D funding round, which closed in March, supported the company in the continued innovation of its current product suite and hiring of 300 new employees, reinforcing its leadership in the European HR tech sector.
PayFit marks General Atlantic’s seventh investment in France’s technology ecosystem over the last five years.
