Why is Shyfter raising €1.5 million when it is already profitable?

Brussels, May 14, 2025 – The Belgian scale-up Shyfter, specialized in SaaS workforce management solutions, announces a €1.5 million fundraising round to accelerate its international growth.

plans to boost its R&D efforts with several new features in the pipeline.

In 2024, Shyfter proved that strong growth and profitability can coexist. With a 70% growth rate and a break-even milestone reached, the company had a healthy financial base that allowed continued growth without external capital. Still, in a spirit of controlled acceleration, Shyfter chose to raise €1.5 million – part of which is non-dilutive – to support European expansion, product development, and internal structuring.

performance, and a long-term vision. The funds raised will support an already strong growth trajectory, while keeping ambitions realistic.

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.

With this new financing, Shyfter accelerates its European expansion in a targeted and strategic way. Already well established in Belgium – where its solution is used by hundreds of companies, including major brands in the hospitality and retail sectors – the startup aims to reinforce its local presence and solidify its national leadership.

The goal: replicate Belgian 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 HR Tech player, moving deliberately, with a clear vision and precise execution.

Shyfter offers a solution adapted to many sectors but pays special attention to Horeca and Retail, where flexibility, shift management, and HR optimization are critical. With a tailored approach and strong field knowledge, Shyfter supports international chains such as Burger King, KFC, and Quick, as well as premium groups & franchise networks.

Shyfter strengthens its central role in the HR ecosystem by building strategic partnerships with major payroll actors. Shyfter becomes the "master" data source for employee information: time worked, absences, leave, overtime... All validated data in Shyfter syncs automatically with payroll tools.

Shyfter’s goal is clear: remain fully independent from any specific payroll provider. That’s why Shyfter can integrate with any of them, ensuring full compatibility without locking users into a closed ecosystem.

"

Product innovation: a participative and unique HR app

scheduling, advanced time-tracking tools, deeper payroll integrations, and more.

“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 Lionel Hermans.

expectations, fostering user loyalty and attracting new ones with genuinely differentiating features.

Founded in 2019 by Lionel Hermans and Vincent Baille, Shyfter is a Belgian startup specialized 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.

‍

About welovefounders

‍