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Freshfields advises General Atlantic on a €254 million fundraising for PayFit
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised General Atlantic on the series E funding round for PayFit for a total amount of €254 million. The startup, which specialises in payroll and human resources management for SMEs, is now valued at 1.8 billion euros.
General Atlantic, a leading global growth equity firm, led the round, with participation from existing investors Eurazeo, Bpifrance and Accel Ventures. PayFit plans to use the funds to recruit additional top talent, accelerate the development of innovative new products, and increase its market share across Europe.
PayFit marks General Atlantic’s seventh investment in France’s technology ecosystem over the last five years, a region in which the firm has strong conviction.
The multijurisdictional Freshfields team was led in Paris by partner Julien Rebibo, with support from Paul Bévierre, Octavian David and Aia Eid, associates, who advised on corporate matters. Christel Cacioppo, partner, and Matthias Triolle, associate, advised on employment law matters. Hélène Lallemand, senior associate, and Béatrice Collette, associate, advised on compliance matters.
Additional advice was provided throughout the course of the transaction from Freshfields team members in the UK, the Netherlands, Italy, Spain, Germany and the USA. Partner Giles Pratt and senior associate Michael Evans led on IP/IT aspects, supported by associates Vanessa Jiang, Shini Pattni and Zoe Walker. Compliance advice was provided by counsel Katie Palms and associates Katerina Gross and Lexi Lazell and, in New York, counsel Stephanie Brown Cripps. In Amsterdam, partner Paul Van Den Berg and associate Bart Verheijen advised on antitrust matters; Eleonora Di Pangrazio, associate, advised on compliance matters. From our Milan office, Enrico Castellani, partner, Stefania Guarino, senior associate, and Davide Guadagnino, associate, advised on compliance matters; Lorenzo Fusco, counsel, and Matteo Tola, associate, advised on employment law matters; Francesco Barcellini, trainee, assisted on corporate matters. In Madrid, Enrique Carrera, counsel, advised on antitrust matters; Carla Gomez, senior associate and Javier Sanchez-Valiente, associate, advised on corporate matters. In Germany, associates Karim Hildenbrand and Jadwiga Loiko advised on corporate law matters out of Munich; Hendrik Wessling, associate, advised on competition matters out of Dusseldorf; Tristan Kalenborn, principal associate, and Julian Boatin, associate, provided compliance advice out of Dusseldorf.
