French HR startup PayFit raises €254 million to simplify the payroll and HR processes for SMEs globally

This latest raise in fresh capital sees PayFit reach a €1.82 billion valuation, which means the French company is now officially part of the the unicorn club. Its €90 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. Based in France, PayFit has successfully expanded into three additional major European markets – Germany, Spain, and the United Kingdom – and plans to scale from more than 700 current employees to over 1,000 within the next 12 months. The expansion of the PayFit team has included key senior leadership hires across critical business functions spanning technology, finance, operations, and more. PayFit will use the new Series E funding to deepen its penetration in existing markets, invest in its core automated payroll software offering, and continue to expand its SME-tailored solution across HR management by complementing leaves, absences and expenses with interview assessment functionality, among other features to be launched later this year.