Funding round
PayFit Series B
PayFit, which works in payroll management software development in Paris, raised $16M in a Series B round announced on 6 Jul 2017, led by Accel. 3 firms took part, 1 of them already investors. It is PayFit's second venture round on record; the one before was a Seed in Jan 2016.
$16M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
PayFit did not disclose a valuation in this round. It came 18 months after PayFit's Seed. It is 3.9% of the $410M PayFit has raised in the venture rounds on record. PayFit raised again 44 months later: a Series D round of $107M in Mar 2021. Its next priced round, a Series E in Jan 2022, valued it at $2.10B.
PayFit's funding rounds
PayFit has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Accel led the round with 2 other firms. Accel had backed PayFit before.
Lead investor
- Accel backs 581 venture-backed companies existing investor
Also in the round
- backs 15 venture-backed companies new investor
- Xavier Niel new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
372 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was close to the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| SenseTime Tech Companies | 14 Jul 2017 | $410M | $1.50B | not named |
| Tech Companies | 28 Jul 2017 | $350M | $1.10B | Zeus Entertainment |
| Tech Companies | 19 Jul 2017 | $159M | not disclosed | SoftBank Group Corp. and Greylock Partners |
| Tech Companies | 25 Jul 2017 | $62M | not disclosed | Y Combinator |
| Tech Companies | 20 Jul 2017 | $50M | not disclosed | Insight Partners |
| Tech Companies | 18 Jul 2017 | $50M | not disclosed | Activant |
| Tech Companies | 18 Jul 2017 | $43M | not disclosed | Georgian |
| Assent Tech Companies | 14 Jul 2017 | $40M | not disclosed | Greenspring Associates |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did PayFit raise in its Series B round?
PayFit raised $16M in its Series B round, announced in Jul 2017.
Who led PayFit's Series B round?
Accel led it, with Otium and Xavier Niel.
What was PayFit's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
372 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $16M, and this round was close to the median.
Did PayFit raise again after this round?
Yes: a Series D round in Mar 2021 of $107M.