Brussels-based HRTech scale-up Shyfter raises €1.5 million to “step on the accelerator” and expand into key markets

The Belgian HRTech scale-up Shyfter, been experts in SaaS labor force monitoring services, revealed a EUR1.5 million fundraising round to increase its global development in France, Spain and the Netherlands.

This fundraising round combines lasting, dedicated companions. Mike Vandenhooft, very early capitalist and Founder of Newpharma, enhances his equity risk. He is signed up with by welovefounders, a VC fund investing in Shyfter for the very first time.

“ Accomplishing success without slowing down development is feasible– we verified it in 2024. Yet success is not an end by itself: we intend to relocate quicker, go better, while preserving a healthy and balanced, scalable, and accountable version. We can have elevated a lot more, yet we selected to elevate just what we require to remain dexterous and concentrated on producing genuine worth,” states Lionel Hermans, Chief Executive Officer and Founder of Shyfter.

Established In 2019 by Lionel Hermans and Vincent Baille, Shyfter is specialises in wise team organizing and labor force monitoring. Its SaaS system enables firms to intend group routines in a couple of clicks, handle time monitoring (boxing, overtime, leave), and automate numerous human resources and pay-roll jobs with sophisticated combinations.

Shyfter accomplished success in 2024 while videotaping 70% development in the very same year, a task that would certainly have enabled them to proceed broadening without increasing brand-new funding.

Nonetheless, the firm has actually picked to “ action on the accelerator” and make use of the elevated funds– component of which is non-dilutive– to sustain its growth throughout Europe and enhance its R&D initiatives with a number of brand-new attributes in the pipe: smart automatic organizing, progressed time-tracking devices, much deeper pay-roll combinations, and much more.

Today, the start-up asserts almost 1,800 customers– from SMEs to big organisations– and prepares to increase this number every year up until 2027, with an ARR target of EUR10 million and a go back to success by the end of 2026.

“ Our customers are our ideal R&D companions. Every confirmed pointer can come to be a Shyfter attribute made use of by countless others– that’s the power of a participative application developed with its area,” includes Hermans

Shyfter has actually been energetic in France given that in 2015 in ‘light’ setting, buoyed by this experience and solid expanding need, the Creators made a decision to designate a considerable section of the funds elevated to quicken procedures in France.

At the same time, 2 high-potential markets are being released: Spain and the Netherlands. The firm thinks that these nations are abundant in multi-site organizations and labor force monitoring requires, and thus are a rational following action in Shyfter’s development method.

Their objective is to reproduce their success in France this year, while laying the structure for a lasting existence in 2 brand-new appealing markets. Shyfter intends to come to be an essential European HRTech gamer, relocating intentionally, with a clear vision and accurate implementation.

Shyfter presently sustains global chains such as Hamburger King, KFC, and Quick, in addition to exceptional teams & franchise business networks.

Shyfter’s objectives is to continue to be completely independent from any type of particular pay-roll company, preserving its capability and freedom to incorporate with any type of picked one– guaranteeing compatibility without securing individuals right into a shut environment.

This visibility likewise relates to the temperature staffing field, with energetic combinations with gamers like AbsoluteYou, allowing firms to centralise both interior and short-term team monitoring in Shyfter in a liquid and unified method.

“ Our aspiration is to make Shyfter the special and independent human resources cabin, with the ability of
engaging with any one of the firm’s devices, no matter picked companions or companies,” highlighted Shyfter

The message Brussels-based HRTech scale-up Shyfter raises €1.5 million to “step on the accelerator” and expand into key markets showed up initially on EU-Startups.