Connect with us

startups

$79 Million Raised By PayFit For Its Payroll service

Published

on

$79 Million Raised By PayFit For Its Payroll service

PayFit is a French start-up that currently raised $79 million in funding from Bpifrance and Euranzeo. The company started out by providing payroll services to both small and medium-sized companies in France. But the company has soon emerged as a complete HR solution provider for many European countries.

In order to make things easy for small companies, PayFit makes use of a software-as-a-service approach. This help companies to easily handle HR information and payroll from a browser. Not just that, but everything stays updated and in alignment with the labor regulation as well.

PayFit has been designed to generate pay slips once you enter employee data in it. Employees are sent an email once their pay slips are ready to be discharged. In case, an employee is going to get an increment, the amount can be modified by logging into your PayFit.

At times of paying payroll taxes, the system automatically reminds of you how much and at what time you have to pay them. Along with it you can also see reports about your employees and generate exports for your accountant.

The system is also designed to handle leaves, absences, shifts and expense reports. This is important as it affects your payroll directly.

You can also create an organizational chart in the system in order to approve vacation days and expense reports.

Making HR giants in the US is still easy. But when it comes to Europe, labor laws are much more complicated. Despite that, the start-up has managed to spread its services in Spain, France, Germany, and the UK. It is soon going to introduce itself to Italy as well.

The company also has its own programming language called the Jetlang which can transform labor code into computer code.

The company has 300 employees and around 3000 companies depend on it. With this fundraising, the company is planning to double its workforce by 2020.

Brown is a Senior Writer at GadgetFreeks.com. He has previously worked as Growth PM lead at Airbnb. At GadgetFreeks, he writes news on latest startups which are launched in the industry.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

instagram instagram
apps6 days ago

Instagram now requires new users to give their birthdate

Until now, users on Instagram were not required to provide their birthdate to sign up for the service, unless they...

apple apple
apps7 days ago

Apple reveals its best apps and games of 2019

Apple has finally announced the roundup of its best apps and games for 2019. This year, the winners were announced...

snapdragon 865 snapdragon 865
gadgets7 days ago

Qualcomm announces new Snapdragon 865 flagship processor

Qualcomm has officially unveiled its next-generation flagship processor for smartphones, the Snapdragon 865. The upcoming flagship chipset will make its...

playstation playstation
gadgets1 week ago

PlayStation bags Guinness World Record for best selling console ever

Today marks the 25th anniversary of the PlayStation console, as Sony released the original PS on this day 25 years...

gadgets1 week ago

Chromebook deals on Cyber Monday 2019 are here

Hey you, yes you, have you been wanting to buy a Chromebook for a long time but never really tried...

gadgets1 week ago

Amazon’s Cyber Monday Deals 2019 on Washing Machines

Got bored with your old washing machine that is turning your branded clothes into the garbage? Tired of washing clothes...

Uncategorized1 week ago

Amazon Cyber Monday 2019 LED TVs offers: Here are the basic new deals

The Holiday of Thanksgiving is one of the most awaited holidays in the United States but with the Cyber Monday...

gadgets1 week ago

Cyber Monday 2019’s VR headset deals for Oculus, Vive, and PlayStation VR

Cyber Monday on one of the most exciting times of the year has arrived. All the shoppers and gadget freaks...

gadgets1 week ago

Cyber Monday 2019: Best Deals on Apple Products Including iPhone, HomePod, AirPods, and More

Cyber Monday 2019 at the time of Thanksgiving is here, and every individual is looking forward to this time as...

gadgets1 week ago

Cyber Monday 2019 brings joy to smartwatches buyer with huge discounts

Smartwatches are simplified applications that make our daily tasks more interesting and easy. They play a significant role in everyday...

Trending