Workpay, a Kenyan HR payroll startup has raised a $2.7M pre-Series A funding.
In tweet, Workpay said, “We are excited to announce that Workpay has secured $2.7million Pre-Series A funding round to continue expanding our HR, Payroll, Compliance, and Benefit solutions across Africa.”
Funding was raised from Launch Africa, Saviu Ventures, Acadian Ventures, Asian, P1 Ventures and Norrsken.
Workpay was launched in June 2019 and previously raised a $2.1 M seed funding in 2020. The YCombinator backed startup offers tools that enable employers to pay salaries in local currencies across Africa and beyond, file taxes and process employee benefits.
With Workpay tools, employers are able to seamlessly track and manage their employees’ time and attendance and leave days, and pay them wherever they are into any account they choose. Employees can get paid wherever they are and into their preferred accounts. They can also receive and view their payslips, make expense requests and apply for leave days.
Thomas Otter, General Partner at Acadian Ventures said in a statement, “Workpay is building a top notch product, meeting the specific needs for HR and Payroll in sub-saharan Africa.”
At the moment, Workpay manages close to 700 customers and about $200 million in total payroll value which is expected to increase as the HR payroll company is set to launch a payroll engine that can serve customers in additional markets. It is also in the process of rolling out its services in 40 more countries in Africa following recent funding.
In a gratitude tweet, Workpay pointed out, “This funding will allow us to improve our existing products, introduce new product lines and expand into new markets.”
