PayFit chooses Barcelona for second technology hub

By the end of the year, the company will have finalised its team, which will consist of 500 professionals

PayFit's commitment to Barcelona continues to grow. Just three months ago, its Country Manager for Spain Yoann Artus told ICEX-Invest in Spain that the French payroll and human resources software company would be opening a new office in Barcelona's 22@ district, which would create a hundred new jobs. An even more ambitious project has been added to this one: the creation of a technology hub which will be the second for the company and its first in Spain.

A substantial part of the 254 million euros raised earlier this year in a financing round with which it achieved unicorn status will undoubtedly be destined for Spain. As Artus explained in that interview, Spain was the first country to which the company internationalised, and is its second largest market in terms of turnover.

European focus for technological innovation
But the choice of Barcelona was not solely due to the importance of the Spanish market in PayFit's income statement. The company wants to attract and retain talent, and is well aware of the fact that the Catalan capital is one of Europe's main centres for technological development and innovation.

In support of this affirmation, the firm cites Financial Times group magazine fDi Intelligence, which describes Barcelona as the second best city in Europe, and the best in the southern part of the continent, for attracting investment in the technology sector. In terms of attracting talent, the city ranks as the fifth most appealing city for digital experts, and stands at number four on the list of Europe’s most international startup hubs.

Attracting talent
It is this talent that Payfit wants to bring to its new technology hub, which is expected to employ over 500 professionals by the end of the year. They will undoubtedly come from a wide range of countries, as Barcelona is home to 30% of the foreigners working in the technology sector. This means that the firm will in addition become one of the main generators of highly-skilled employment opportunities.

An advocate of remote working, the French company has developed a system to prevent brain drain. Among other advantages, it makes it easier for expatriates to return to their home country whenever they want. To accommodate all those currently working in Barcelona, the firm has opened a 4,537 square metre office in the 22@ district.

Regarding this talent management policy, Artus explained, "As a European company, it’s necessary to have anchor points in high-potential countries to encourage exchange between teams, departments and countries. This new hub will also allow PayFit to accommodate all the employees who commute to Barcelona, as well as those who work remotely.”

Photo: PayFit

Link in the citation at the beginning: https://www.investinspain.org/es/casos-exito/payfit