PayFit, a Paris, France-based payroll management startup, raised $15.9m (approx. €14m) in Series B funding.
The round was led by Accel with participation from Xavier Niel and Otium Venture.
The company intends to use the funds to continue to develop the platform and expand its business reach beyond France.
Co-founded by Firmin Zocchetto, Ghislain de Fontenay, and Florian Fournier, Payfit provides small and medium enterprises with a platform to manage payroll, enter information about employees, generate legally compliant paychecks, wire salaries and notify authorities about healthcare or retirement status.
The company currently employs 40 people with plans to double its workforce as soon as possible.