Fintech Startup PayFit Raises $16 Million

PayFit completed $16 million in Series B financing. Three investors participated in the round, among them Accel Partners.

PayFit is a French technology startup that helps small and medium enterprises to pay their employees easily and quickly. The company has created an ultra-intuitive SaaS solution that allows users easily and automatically to manage all aspects of payroll: hiring employees, payroll statements, social security, end of contracts, expense reports, and more.

In its announcement, the company said the new funding round will enable PayFit to continue to expand its suite of digital HR processes, kickstart its international expansion with an initial focus on Europe, and double its workforce by 2018.