Baker McKenzie has advised Accel Partners in the framework of its investment, alongside Eurazeo and Bpifrance, in Payfit, a company specialising in the dematerialisation of payslips, amounting in total to €70 million.
Created in 2015, Payfit offers a SaaS solution which allows companies to simplify the management of payroll and social security returns. Initially focusing on payroll management, PayFit progressively integrated new HRIS bricks to become a tool which makes it possible to assist employees on a daily basis in areas ranging from paid leave to expense reports. Each employee has a personal space to manage paid holiday and days off, report remote working time, add expense reports, fill out working time and access payslips. To-date, PayFit has 3,000 client companies including Heetch, Le Slip Français, Station F, Alan, Doctolib and Big Mamma.
Founded by Firmin Zocchetto, Florian Fournier and Ghislain de Fontenay, the Parisian start-up raised €5 million in October 2016 followed by €14 million in July 2017, with Accel Partners one of the main investors.
Accel Partners was advised by Baker McKenzie with a team led by Matthieu Grollemund, partner, assisted by Hélène Parent and Gautier Valdiguié, associates.