PayFit to double workforce with €70m funding round
French start-up, PayFit, plans to double its workforce by 2020, following a €70 million funding round from Eurazeo and Bpifrance, reports Jane Connolly.
According to TechCrunch, the payroll service-turned-full HR solution currently employs 300 people and serves 3,000 SMEs in France, Spain, Germany and the UK. PayFit is due to launch in Italy soon.
Using a software-as-a-service (Saas) approach, PayFit offers SMEs a way to manage payroll and HR information from a web browser. Services include automatic generation of pay slips and employee notifications, payroll tax reminders, report generation and management tools for absences, leave and more.
PayFit has managed to overcome the challenges of varying labour laws across multiple countries and has developed its own programming language, Jetlang, to convert labour code into computer code.