Workpay, Kenya’s Human Resources (HR) and payroll provider startup, has raised a $2.7million pre-series A round to expand its operation across 40 Africa countries.
According to Paul Kimani, CEO and Co-founder of WorkPay, the proceeds from this round will help set in motion the company’s plan to launch a payroll engine that enables companies from additional markets to stay ahead of their customers’ needs. Also the company will make use of API to enable accounting firms to become payroll providers.
Workpay also plans on adding additional financial services on its HR payroll platform such as correlation to investment accounts, medical and asset insurance, as well as earned-wage access for employees attending to emergencies or bills.
Thomas Otter of Acadian Ventures, one of the companies that led this funding round, further opines that “the addressable market in the region is growing rapidly and HR and payroll systems provide the foundation for fair and accurate pay. When combined with advances in mobile payments, solutions like Workpay can have a positive impact on businesses and society.”
Other companies that led the round are Launch Africa, Saviu Ventures, Proparco, Fondation Botnar, Kara Ventures, Axian, P1 Ventures and Norrsken.
About the company
Workpay was founded in 2019 by Paul Kimani, (CEO) and Co-founder and Jackson Kungu, (COO).
Workpay enables companies in Africa to hire, manage and pay employees efficiently using one platform.
The startup makes use of an app that enables employees or workers to receive their salaries, view their pay slips and also apply for leave days. It also grants employers the leverage of tracking and managing activities of their employees.