The Belgian HRTech scale-up Shyfter, specialised in SaaS workforce administration options, introduced a €1.5 million fundraising spherical to speed up its worldwide progress in France, Spain and the Netherlands.
This fundraising spherical brings collectively long-term, dedicated companions. Mike Vandenhooft, early investor and Co-founder of Newpharma, strengthens his fairness stake. He’s joined by welovefounders, a VC fund investing in Shyfter for the primary time.
“Reaching profitability with out slowing progress is feasible – we proved it in 2024. However profitability shouldn’t be an finish in itself: we need to transfer sooner, go additional, whereas sustaining a wholesome, scalable, and accountable mannequin. We might have raised far more, however we selected to boost solely what we have to keep agile and centered on creating actual worth,” says Lionel Hermans, CEO and Co-founder of Shyfter.
Based in 2019 by Lionel Hermans and Vincent Baille, Shyfter is specialises in good employees scheduling and workforce administration. Its SaaS platform permits firms to plan workforce schedules in a number of clicks, handle time monitoring (punching, additional time, go away), and automate many HR and payroll duties by means of superior integrations.
Shyfter achieved profitability in 2024 whereas recording 70% progress in the identical yr, a feat that might have allowed them to proceed increasing with out elevating new capital.
Nonetheless, the corporate has chosen to “step on the accelerator” and use the raised funds – a part of which is non-dilutive – to help its growth throughout Europe and increase its R&D efforts with a number of new options within the pipeline: clever automated scheduling, superior time-tracking instruments, deeper payroll integrations, and extra.
In the present day, the startup claims practically 1,800 shoppers – from SMEs to massive organisations – and plans to double this quantity yearly till 2027, with an ARR goal of €10 million and a return to profitability by the top of 2026.
“Our shoppers are our greatest R&D companions. Each validated suggestion can turn into a Shyfter characteristic utilized by 1000’s of others – that’s the facility of a participative app constructed with its group,” provides Hermans.
Shyfter has been energetic in France since final yr in ‘gentle’ mode, buoyed by this expertise and robust rising demand, the Founders determined to allocate a good portion of the funds raised to hurry up operations in France.
In the meantime, two high-potential markets are being deployed: Spain and the Netherlands. The corporate believes that these nations are wealthy in multi-site companies and workforce administration wants, and as such are a logical subsequent step in Shyfter’s growth technique.
Their aim is to duplicate their success in France this yr, whereas laying the muse for a sustainable presence in two new promising markets. Shyfter goals to turn into a key European HRTech participant, shifting intentionally, with a transparent imaginative and prescient and exact execution.
Shyfter presently helps worldwide chains equivalent to Burger King, KFC, and Fast, in addition to premium teams & franchise networks.
Shyfter’s goals is to stay absolutely impartial from any particular payroll supplier, sustaining its means and liberty to combine with any chosen one – guaranteeing compatibility with out locking customers right into a closed ecosystem.
This openness additionally applies to the temp staffing sector, with energetic integrations with gamers like AbsoluteYou, enabling firms to centralise each inside and non permanent employees administration in Shyfter in a fluid and unified means.
“Our ambition is to make Shyfter the distinctive and impartial HR cockpit, able to
interacting with any of the corporate’s instruments, no matter chosen companions or suppliers,” highlighted Shyfter.
