Eurazeo, BPI France et al. invest €70m in PayFit

Taking part in the round were Eurazeo (whose Eurazeo Growth team invested €35m), BPI France and the company's historical investors, Accel, Frst (formerly Otium Venture) and Xavier Niel.

The fresh capital will help the business open new offices in Italy in 2020 and foster product development.

The business first raised €5m via a series-A from entrepreneur Xavier Niel and other backers in Q1 2017. That same year, the startup was backed by Accel Partners and Otium Capital via a €14m series-B round.

Company
Founded in 2016 and based in Paris, PayFit is a fintech startup that allows SMEs to manage their payroll and HR services. Its subscription-based software service digitalises administrative and time-consuming tasks.

PayFit currently has 300 employees and offices in Paris, Barcelona, Berlin and London, helping around 3,000 companies. 

People
Eurazeo – Yann du Rusquec (managing director); Anne-Charlotte Philbert (associate).
PayFit – Firmin Zocchetto (CEO, co-founder).

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• Topics
• Expansion
• France
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• France
• Eurazeo
• BPI France
• Accel Ventures