Accel leads €14m PayFit round

The sizeable series-B comes just five months after PayFit raised a €5m series-A from entrepreneur Xavier Niel and other backers, and a year after the business was launched.

Niel and Otium Venture also took part in the series-B alongside Accel.

The French startup is now planning to launch internationally with an initial focus on Europe. Rollout will begin with Spain, Italy, Germany and the UK. The company stated it would specifically look to gain a foothold in markets with complex labour laws, as it did in France.

Company
Established in April 2016, PayFit aims to digitalise and simplify payroll management and HR processes for companies. Via the platform, employees can have access to a dedicated online space for payslips, leave requests, expense report entry and other HR data.

PayFit employs 40 staff and claims to have already attracted almost 600 customers, including Save, Lendix, Big Mamma, Heetch, Zenly and Sellsy.

People
Accel Partners – Philippe Botteri (partner).

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