PayFit, one of the fastest-growing tech companies in Europe, has launched in the UK. The news follows its previous funding round in June which saw the software startup raise $79m from Eurazeo and Bpifrance.
PayFit currently has offices in France, Germany and Spain, and has grown to 300 people. Over the next year, it plans to double its workforce to 600, also opening an Italian office.
The London office located in Shoreditch, currently has 18 staff and predicts to grow to 30 by the end of the year, helping PayFit to roll out as quickly as possible across the UK.
Founded in 2016, PayFit’s software reinvents the HR process, offering an end-to-end, automated service to SMEs across the globe, digitalising everything from payslips and expenses to holidays and RTI submissions.
With over 4,000 customers worldwide, PayFit is keen to dominate in a market close to home. There are 5.7m SMEs in the UK, accounting for 99 percent of all private business.
CEO and Co-founder Firmin Zocchetto said: “This is only the beginning of our adventure: Europe is home to tens of millions of SMEs that want to digitalise themselves.
“It is an incredible market, and the UK is second only to Germany in terms of number of people employed by SMEs. PayFit’s aim is to be the benchmark in payroll and human resources management. And, in the UK, that means making life easier and simpler for over 19m people.”
Nick Miller, UK Managing Director added: “Not only does the UK have one of the largest populations of SMEs in Europe, but it’s also a very digitised market. Despite this, the innovation in payroll and HR has traditionally underserved SMEs, making it a great opportunity for PayFit to continue its incredible growth.”