Kenyan cloud-based workforce management platform Workpay has raised $5 million in a Series A funding round, led by Norrsken22, a prominent tech growth fund. The round also saw participation from major investors such as Visa, Axion, and Y Combinator. This funding follows Workpay’s earlier $2.7 million pre-Series A round in 2023.
The fresh capital will be used to enhance Workpay’s performance management tool through artificial intelligence, strengthen its expansion efforts across Africa, and stabilize its financial services offerings. Since its founding in 2019 by Paul Kimani and Jackson Kungu, Workpay has become a comprehensive SaaS platform that handles payroll and HR processes, supporting businesses with everything from onboarding to offboarding employees and contractors.
With a suite of services that includes payroll processing, time and attendance tracking, leave management, performance monitoring, expense tracking, employee benefits administration, and Employer of Record (EOR) solutions, Workpay has gained traction in over 1,000 businesses across 20 African countries.
Workpay’s platform enables businesses to boost productivity, improve employee accountability, and comply with labour laws, especially for remote workers. It also aids in effective workforce planning. The company primarily serves two customer groups: businesses with 20-100 employees within a single country and those with 100-1,000 employees spread across multiple regions.
Looking ahead, Workpay is aiming to provide a more holistic HR solution by incorporating additional services such as medical and vehicle insurance. It also plans to form partnerships that offer lending, saving, and investment opportunities, focusing on cost-effective and simple solutions for both companies and employees.
This funding is set to propel Workpay’s mission of empowering businesses with efficient and AI-driven HR and payroll services across the African continent.
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