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PayFit raises €70 million to take Europe by storm

PayFit, a start-up founded by a Polytechnique alum, announced a total funding capital of €70 million on Monday, June 17, 2019. It intends to use the money to accelerate its development by expanding into new European markets.

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The start-up, PayFit, co-founded in 2016 by École Polytechnique alum, Florian Fournier, alongside partners Firmin Zocchetto and Ghislain de Fontenay, recently completed its third round of financing. After reaching €5 million in 2016 and €14 million in 2017, the start-up has now managed to gather a total of €70 million to accelerate its development.

PayFit offers a daily employee support tool for salary and HR matters. Users of the service benefit from a dedicated space where they can access pay slips, monitor working time, request holidays, register absences, add expense reports or even find out their withholding tax rate.

Already well established on the French market, the start-up now has 200 employees and 3,000 client companies including Big Mamma, Alan, Le Slip Français, La Ruche Qui Dit Oui, Konbini, ManoMano, Pumpkin, Heetch and Station F. PayFit hopes to use this latest round of funding to bring its solution to new European markets, with offices already set up in Germany, Spain and the United Kingdom and plans for another branch in Italy.