Overview

PayFit provides a software solution that streamlines payroll management and human resources processes for small and medium-sized businesses (SMBs). Their platform automates various HR tasks, making it easier for business owners and HR professionals to manage payroll efficiently. This allows users to save time and reduce costs, enabling them to concentrate more on their employees. PayFit primarily operates in France, Spain, and the UK, serving over 6,500 companies, including well-known clients like Biocoop, Heetch, and Gymlib. Unlike many competitors, PayFit focuses on a subscription-based model that offers a comprehensive range of features to assist in the digital transformation of HR management. The company's goal is to simplify HR processes for SMBs, helping them to operate more effectively.

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Simplify's Take

What believers are saying

• Integration with AI tools can enhance PayFit's payroll and HR solutions.
• The rise of remote work boosts demand for PayFit's cloud-based HR solutions.
• Collaborations with fintech firms can enhance customer retention for PayFit.

What critics are saying

• Increased competition from Pento could challenge PayFit's market share.
• Integration into BambooHR's platform may pose data privacy risks.
• Caroline Leroy's new role at Platform.sh could lead to talent poaching risks.

What makes PayFit unique

• PayFit automates payroll and HR for SMBs with a user-friendly SaaS platform.
• The company supports digital transformation with a range of product features and services.
• PayFit operates in France, Spain, and the UK, serving over 6,500 companies.

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Funding

Total Funding

$476.9M

Above

Industry Average

Funded Over

6 Rounds

Notable Investors:

AccelFirst Round Capital

Notable Investors:

AccelFirst Round Capital

$279,400,000

Series E

Jan 2022

Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.

Series E Funding Comparison

Above Average

Industry standards

Ind Avg. $100M

$30M

$245M

$250M

$279.4M

$1250M

$1500M

View all funding stages