Orrick Advises PayFit, the Latest French Unicorn, on its €254 million Series E

January.06.2022

Version Française : Orrick a conseillé PayFit sur sa série E de 254M€, la start-up rejoint le cercle fermé des licornes françaises

Orrick advised PayFit on its €254 million Series E. Led by General Atlantic, the round also included historical investors such as Eurazeo, BPIFrance and Accel Partners, bringing the valuation of the Parisian startup to €1.82 billion.

Founded in 2015 by Firmin Zocchetto, Ghislain de Fontenay and Florian Fournier, PayFit develops a SaaS solution that simplifies and automates payroll and HR processes for small and medium-sized businesses. The company is located in France, Germany, Spain, Italy and the UK with more than 700 employees and a client portfolio of more than 6,000 companies. With this new raise, Payfit plans to hire an additional 400 people in 2022 and develop its offering to further leverage the current acceleration in company digitalization created by the pandemic.

Orrick has been supporting PayFit since 2017 and advised the company on its series B, C, D rounds. This latest round, only a few months after it €90 million Series D closed in April 2021, makes PayFit the 23rd French Tech Unicorn.

The Orrick team supporting PayFit includes Benjamin Cichostepski-Lesage, Samuel Tazartes, Mayeul Lelievre and Juliette Ritouret of the Technology Companies Group in the Paris Office.