Funding round
PayFit Series E
PayFit, which works in payroll management software development in Paris, raised $287M in a Series E round announced on 6 Jan 2022, led by General Atlantic, at a $2.10B post-money valuation. 4 firms took part, 3 of them already investors. It is PayFit's fourth venture round on record; the one before was a Series D in Mar 2021.
$287M
Amount raised
254,000,000 EUR converted
$2.10B
Post-money valuation
$1.81B pre-money
4
Investors
1 lead
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced PayFit at $2.10B after the new money. The $287M bought investors about 14% of the company. It came 10 months after PayFit's Series D. It is 70% of the $410M PayFit has raised in the venture rounds on record. No later venture round is on record for PayFit.
PayFit's funding rounds
PayFit has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
General Atlantic led the round with 3 other firms. Eurazeo, Bpifrance and Accel had backed PayFit before.
Lead investor
- General Atlantic backs 134 venture-backed companies 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
104 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $150M, and this round was 1.9 times the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 20 Jan 2022 | $200M | $5.20B | Blue Owl Capital and BDT & MSD Partners |
| Tech Companies | 25 Jan 2022 | $160M | $2.00B | Adams Street Partners |
| Tech Companies | 18 Jan 2022 | $150M | $3.20B | Franklin Templeton |
| Tech Companies | 14 Jan 2022 | $150M | not disclosed | Johnson & Johnson Innovation - JJDC, Inc. and Novo Holdings |
| Tech Companies | 14 Jan 2022 | $110M | $1.30B | Marshall Wace |
| Tech Companies | 27 Jan 2022 | $49M | not disclosed | GP Bullhound |
| Job&Talent Tech Companies | 1 Dec 2021 | $500M | $2.35B | Kinnevik |
| Claroty Tech Companies | 8 Dec 2021 | $400M | not disclosed | SoftBank Vision Fund and Bessemer Venture Partners |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did PayFit raise in its Series E round?
PayFit raised $287M in its Series E round, announced in Jan 2022.
Who led PayFit's Series E round?
General Atlantic led it, with Eurazeo, Bpifrance and Accel.
What was PayFit's valuation at the Series E round?
$2.10B post-money ($1.81B pre-money).
How does it compare with other Series E rounds in Tech Companies?
104 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $150M, and this round was 1.9 times the median.