Brussels-Based HRTech Shyfter Raises €1.5Mn Funding

The funding includes long-term supporters including Mike Vandenhooft, an early investor and co-founder of Newpharma and new investor, the VC fund welovefounders, also joined.

“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.​

In 2024, Shyfter became profitable and grew by 70%. This growth meant they could have kept expanding without extra funding.

But the company decided to speed up its growth by raising funds, some of which don’t dilute ownership. They will use the money to grow across Europe and improve their product with new features like smart scheduling, better time-tracking, and stronger payroll connections.

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Today, Shyfter has almost 1,800 clients, from small businesses to large companies. They plan to double their clients each year until 2027, aim for €10 million in annual recurring revenue, and 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 a ‘light’ way. Thanks to this experience and growing demand, the founders decided to use a large part of the new funds to speed up their work in France.

At the same time, Shyfter is entering two promising markets: Spain and the Netherlands. These countries have many multi-location businesses with strong workforce management needs, making them a natural next step for Shyfter’s growth.

Their goal is to repeat their success in France this year while building a strong, lasting presence in Spain and the Netherlands. Shyfter wants to become a major HRTech player in Europe by moving carefully with a clear plan.

Shyfter already supports big international chains like Burger King, KFC, and Quick, as well as premium groups and franchise networks.

Shyfter stays independent from any single payroll provider. This means it can connect with any payroll system chosen by users, without locking them into one platform.

This open approach also applies to temporary staffing. Shyfter works with companies like AbsoluteYou, allowing businesses to manage both permanent and temporary staff easily in one place.

“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.

About Shyfter

Shyfter was founded in 2019 by Lionel Hermans and Vincent Baille. It specializes in smart staff scheduling and workforce management. Its SaaS platform helps companies quickly create team schedules, track time (like clock-ins, overtime, and leave), and automate HR and payroll tasks with advanced integrations.