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Baker McKenzie has advised Accel, an American venture capital firm, on the EUR 14 million fundraising of Payfit, a company specialized in managing payrolls.

After a EUR 5 million fundraising in October 2016, this new fundraising will enable the startup to grow through products and services development, allowing the company to double its workforce by 2018 and become a leader on the very competitive European market.

Founded in 2015, PayFit is a Software-as-a-Service (SaaS) solution which simplifies companies' payroll processing and social security declarations.

Accel, a leading venture capital firm, has been supporting companies such as BlaBlaCar, Doctolib, PeopleDoc and Showroomprive.com throughout all phases of their growth for more than 30 years.

Baker McKenzie advised Accel with Matthieu Grollemund, partner, as well as Hélène Parent and Gautier Valdiguié, associates.

Payfit was advised by Orrick Rambaud Martel, with Benjamin Cichostepski, partner, and Olivier Vuillod, associate.

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