The Belgian HRTech scale-up Shyfter, specialised in SaaS workforce administration options, introduced a €1.5 million fundraising spherical to speed up its worldwide development 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 development is feasible – we proved it in 2024. However profitability will not 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 lift 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 sensible workers scheduling and workforce administration. Its SaaS platform permits corporations to plan staff schedules in just a few clicks, handle time monitoring (punching, additional time, depart), and automate many HR and payroll duties by way of superior integrations.
Shyfter achieved profitability in 2024 whereas recording 70% development in the identical 12 months, a feat that might have allowed them to proceed increasing with out elevating new capital.
Nevertheless, the corporate has chosen to “step on the accelerator” and use the raised funds – a part of which is non-dilutive – to assist its growth throughout Europe and enhance 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.
At present, 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 tip of 2026.
“Our shoppers are our greatest R&D companions. Each validated suggestion can change into a Shyfter function utilized by 1000’s of others – that’s the ability of a participative app constructed with its neighborhood,” provides Hermans.
Shyfter has been lively in France since final 12 months in ‘mild’ 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 international locations 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 12 months, whereas laying the muse for a sustainable presence in two new promising markets. Shyfter goals to change into a key European HRTech participant, transferring intentionally, with a transparent imaginative and prescient and exact execution.
Shyfter presently helps worldwide chains similar 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 skill 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 lively integrations with gamers like AbsoluteYou, enabling corporations to centralise each inner and short-term workers administration in Shyfter in a fluid and unified manner.
“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.
