Portfolio

Payfield: Payroll and compliance in 40 countries

Active

Payfield lets a company hire and pay people in 40 countries without opening a local entity in each one. It runs payroll, files taxes, handles statutory benefits and keeps employment contracts in line with local law, all from a single account. A startup with staff in six countries can run payroll for all of them in an afternoon.

Aoife and Karan met while leading international expansion at a Dublin software company, where setting up payroll in a new country took four months and a stack of local advisers. We got to know them in 2018 and led the Series B two years later, when Nadia joined the board.

Payfield now pays more than 180,000 people each month on behalf of 9,000 employers, and it holds its own payroll licences in 28 of its 40 markets.

Founders

  • Aoife Byrne

    Co-founder and CEO

  • Karan Mehta

    Co-founder and CTO

Funding history

$392M raised across 5 rounds

  1. Seed · $3M

    Led by Alderhill Ventures

  2. Series A · $14M

    Led by Brightwater Seed

  3. Series B · $45M

    Northwood invested

    Led by Northwood

  4. Series C · $110M

    Northwood invested

    Led by Westerly Growth

  5. Series D · $220M

    Led by Kestrel Ridge

Payfield in the journal

Investor letters

Third-quarter letter, 2026

Our letter to the partners in our funds for the third quarter of 2026: two new commitments, a partial sale of Payfield, and progress at Albedo and Juniper.

Grant Holloway and Sofia Ortega

Three colleagues reviewing documents together at a meeting table

Playbooks

Running a board meeting that helps you

A practical guide for founders to board meetings that earn their time: the pre-read, the agenda, how to reach decisions, and how often to meet.

Nadia Mensah and Lena Fischer