Payfit takes $5.6m to revamp payrolls

French payroll management company Payfit is taking on $5.6m in a funding round having just launched in April.

The capital comes from angel investors and Paris accelerator The Family.

The company operates on a SaaS model charging businesses €39 per month and €11 per employee to access its online platform.

Aside from payroll functions Payfit also allows users to manage things like contracts, salaries and holiday days while keeping up to date with changing regulations.

The company currently only operates in France but says it may look to expand around Europe.

Payfit claims 250 companies have already signed up to the service.

The HR space is one more startups are pushing into and attempting to replace legacy, paper-based systems.

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