Visa and associates invest $5 million into Workpay, aiming to enhance HR and payroll systems.
Workpay, a Kenyan HR, payroll, and benefits platform, has secured $5 million in Series A funding. This funding round was led by Norrsken22 and participated by Visa, Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures, and Acadian Ventures.
Founded by Paul Kimani and Jackson Kibigo, Workpay offers a comprehensive cloud-based HR and payroll SaaS platform. The platform is positioned to lead the market over the next decade, according to Thomas Otter of Acadian Ventures.
Small and Medium Businesses (SMBs) across Africa face significant challenges in payroll management, with 80% of them still relying on manual methods like Excel and Google Sheets. Workpay addresses this gap by providing end-to-end HR and payroll solutions tailored for African businesses.
The platform manages the entire employee journey, from onboarding to offboarding. It includes features such as payroll processing, time tracking, leave management, expense tracking, performance management, benefits administration, and Employer of Record (EOR) services. With the integration of financial services, Workpay's growth potential is tremendous, as stated by Ngetha Waithaka.
Ryosuke Yamawaki, Partner at Verod-Kepple Africa Ventures, praises Workpay's leadership and its evolution into a platform that addresses all HR needs for African businesses. Thomas Otter of Acadian Ventures is excited about increasing their investment in Workpay, which has developed the most advanced HR and payroll platform in Africa.
Across Africa, businesses face complex employment landscapes, including diverse regulations, dispersed teams, and hybrid work environments. Workpay's platform ensures compliance for employees across various markets.
Africa has a large working-age population that is underserved by existing HR and payroll tools, according to Ngetha Waithaka, General Partner at Norrsken22. Workpay currently has over 1,000 businesses across 20+ African countries using its platform. Norrsken22 is enthusiastic about Workpay's potential to transform employee management for Africa's SMEs.
Paul Kimani, CEO of Workpay, aims to make Workpay the go-to solution for employers and employees managing HR, payroll, and benefits. The new funds will be used to expand Workpay across Africa and enhance its financial services offerings. Verod-Kepple Africa Ventures is thrilled to continue supporting Workpay's journey in revolutionizing human resource management across the continent.
With this funding, Workpay is poised to make a significant impact on the HR and payroll landscape in Africa, providing businesses with a much-needed solution to manage their employees effectively and efficiently.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Stopping Osteoporosis Treatment: Timeline Considerations
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
