Kenya-based WorkPay, a cloud-driven HR, payroll, and benefits platform designed for African organizations, has successfully raised $5 million in a Series A funding round. The round was led by Norrsken22, with participation from prominent investors such as Visa, Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures, and Acadian Ventures. This funding will support WorkPay’s expansion across the continent and enhance its financial services offerings.
WorkPay provides a comprehensive cloud-based solution tailored for small and medium-sized businesses (SMBs) in Africa. The platform offers tools for time tracking and salary disbursement, helping companies reduce instances of ghost workers and eliminate inefficiencies associated with cash-based payments, thus saving time and money.
“Our objective is to be the preferred platform for employers and employees when it comes to managing HR, payroll, and work-related benefits,” said Paul Kimani, CEO of WorkPay. He emphasized the platform’s capability to manage payroll and taxes seamlessly across multiple African countries, leveraging deep knowledge of local regulations. Kimani also noted that this funding round is a significant step towards achieving profitability for the startup.
Ngetha Waithaka, General Partner at Norrsken22, highlighted the strategic importance of their investment in WorkPay, pointing out the opportunity to enhance workforce management for Africa’s SMEs. “Africa has a significant working-age population that remains underserved by the current HR and payroll tools. With the incorporation of integrated financial services, WorkPay is poised to make a substantial impact,” Waithaka stated.
The successful funding round and WorkPay’s vision to streamline HR processes for businesses across Africa underscore the increasing demand for innovative HR solutions in the region, as companies seek to optimize workforce management and drive operational efficiency.
