The Belgian HRTech scale-up Shyfter, specialised in SaaS workforce management solutions, announced a €1.5 million fundraising round to accelerate its international growth in France, Spain and the Netherlands.
This fundraising round brings together long-term, committed partners. Mike Vandenhooft, early investor and Co-founder of Newpharma, strengthens his equity stake. He is joined by welovefounders, a VC fund investing in Shyfter for the first time.
“Achieving profitability without slowing growth is possible – we proved it in 2024. But profitability is not an end in itself: we want to move faster, go further, while maintaining a healthy, scalable, and responsible model. We could have raised much more, but we chose to raise only what we need to stay agile and focused on creating real value,” says Lionel Hermans, CEO and Co-founder of Shyfter.
Founded in 2019 by Lionel Hermans and Vincent Baille, Shyfter is specialises in smart staff scheduling and workforce management. Its SaaS platform allows companies to plan team schedules in a few clicks, manage time tracking (punching, overtime, leave), and automate many HR and payroll tasks through advanced integrations.
Shyfter achieved profitability in 2024 while recording 70% growth in the same year, a feat that would have allowed them to continue expanding without raising new capital.
However, the company has chosen to “step on the accelerator” and use the raised funds – part of which is non-dilutive – to support its development across Europe and boost its R&D efforts with several new features in the pipeline: intelligent automated scheduling, advanced time-tracking tools, deeper payroll integrations, and more.
Today, the startup claims nearly 1,800 clients – from SMEs to large organisations – and plans to double this number annually until 2027, with an ARR target of €10 million and a return to profitability by the end of 2026.
“Our clients are our best R&D partners. Every validated suggestion can become a Shyfter feature used by thousands of others – that’s the power of a participative app built with its community,” adds Hermans.
Shyfter has been active in France since last year in ‘light’ mode, buoyed by this experience and strong growing demand, the Founders decided to allocate a significant portion of the funds raised to speed up operations in France.
Meanwhile, two high-potential markets are being deployed: Spain and the Netherlands. The company believes that these countries are rich in multi-site businesses and workforce management needs, and as such are a logical next step in Shyfter’s expansion strategy.
Their goal is to replicate their success in France this year, while laying the foundation for a sustainable presence in two new promising markets. Shyfter aims to become a key European HRTech player, moving deliberately, with a clear vision and precise execution.
Shyfter currently supports international chains such as Burger King, KFC, and Quick, as well as premium groups & franchise networks.
Shyfter’s aims is to remain fully independent from any specific payroll provider, maintaining its ability and liberty to integrate with any chosen one – ensuring compatibility without locking users into a closed ecosystem.
This openness also applies to the temp staffing sector, with active integrations with players like AbsoluteYou, enabling companies to centralise both internal and temporary staff management in Shyfter in a fluid and unified way.
“Our ambition is to make Shyfter the unique and independent HR cockpit, capable of
interacting with any of the company’s tools, regardless of chosen partners or providers,” highlighted Shyfter.
Read the orginal article: https://www.eu-startups.com/2025/05/brussels-based-hrtech-scale-up-shyfter-raises-e1-5-million-to-step-on-the-accelerator-and-expand-into-key-markets/
