PayFit raised €254 million in a Series E funding round led by General Atlantic.

Payfit, a Paris, France-based HR software developer, raised €254 million ($288M) in a Series E funding round.

The money was raised from investors led by General Atlantic, joined by Eurazeo, Bpifrance and Accel.

The proceeds will be used to recruit additional top talent, accelerate the development of innovative new products, and increase its market share across Europe.

Payfit, founded in 2015 by Firmin Zocchetto (CEO), Ghislain de Fontenay and Florian Fournier, started as a software developer of a payroll tool that in time has become an end-to-end HR solution. The company says its solution is in use by over 5,000 SMEs with 100,000 employees, including Revolut, Starling Bank and Treatwell and many other companies across France, Germany, Spain, Italy and the UK.

Payfit previously raised more than $200 million in venture money, with a €90 million ($107M) series D funding round closed in March 2021.