PayFit, a provider of payroll and HR management solutions for SMEs, has raised $289M in a Series E. The round drew participation from Accel, Eurazeo, General Atlantic, and Large Venture.
How’s the company performing?
- UK-based PayFit helps businesses manage payroll processes, employee expenses and benefits, timesheets, employee onboarding, and other related tasks.
- PayFit has more than 6,000 clients — including YuLife, Urban, Treatwell, Flux, and Elvie. 150,000 individuals currently receive payments via its platform.
- The company saw its ARR grow by 70% in 2021.
- It currently has 700 employees and plans to increase headcount to more than 1,000 over the next year.
- PayFit maintains operations across France, Germany, Spain, and the UK.
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