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PayFit

PayFit

Automated payroll and HR management software

About

PayFit provides a software solution that streamlines payroll management and human resources processes for small and medium-sized businesses (SMBs). Its platform is designed to be user-friendly and automated, allowing business owners and HR professionals to efficiently manage payroll tasks, which saves them time and reduces costs. PayFit operates mainly in France, Spain, and the UK, serving over 6,500 companies, including well-known brands like Biocoop, Heetch, and Gymlib. Unlike many competitors, PayFit focuses on a subscription-based model that offers a comprehensive suite of features to assist in the digital transformation of HR management. The company's goal is to enable businesses to concentrate on their employees by simplifying administrative tasks.

Company Stage

Series E

Employees

501-1,000

Industries

Enterprise Software

Total Funding

$497.9M

Headquarters

N/A

Founded

2015


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Simplify's Take

What believers are saying

  • Achieving unicorn status with a valuation of €1.82 billion highlights PayFit's robust financial health and promising growth trajectory.
  • The significant Series E funding round led by prominent investors like General Atlantic and Accel Ventures provides ample resources for innovation and market expansion.
  • PayFit's focus on SMEs offers a unique opportunity to impact a large, underserved market segment with tailored solutions.

What critics are saying

  • The competitive landscape in HR and payroll software is intense, with numerous well-funded players vying for market share.
  • Rapid growth and large funding rounds can lead to operational challenges and scaling issues, potentially affecting service quality.

What makes PayFit unique

  • PayFit focuses on simplifying payroll and HR processes specifically for small and medium-sized enterprises (SMEs), unlike larger competitors who target a broader market.
  • The company's recent €254M Series E funding round and unicorn status underscore its strong market position and growth potential.
  • Strategic collaborations with platforms like BambooHR enhance PayFit's ecosystem, making it more versatile and integrated than standalone solutions.

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Growth & Insights
Headcount

6 month growth

-4%

1 year growth

-12%

2 year growth

-26%

Benefits

An amazing working environment, designed for kindness and blossoming

An attractive remuneration package

An international and dynamic team with the opportunity to visit our different offices (Paris, Berlin, Barcelona, London, Milano)

WFA (work from anywhere policy)

A gym inside the office and Gymlib subscription with preferential rate

Regular team and global events (workshops for a big variety of topics, sport, well-being, time and priority management, sophrology...)

Restaurant tickets

4 weeks of paternity leave (fully covered) and 20 weeks of maternity leave (fully covered)

Henner insurance

Great coffee, fruits, snacks, foosball, MPG Teams or even team yoga classes

MacBooks are our standard, but we'll provide whatever equipment you need to help you get your job done!

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