Kenyan human resource (HR) and payroll solution startup WorkPay has raised Sh341.3 million from international investors to expand to 40 African countries.
The pre-series A round was led by Acadian Ventures, Fondation Botnar, P1 Ventures, and Kara Ventures, among others.
In 2020, it raised Sh238.7 million (US$2.1 million) in seed funding to fuel its growth.
“On the tech side, we have integrated with nearly everyone who is processing payments to allow us to send money to as many countries in Africa as possible,” the firm’s CEO and co-founder said.
“Non-tech means we have established a presence in these countries, and have partners that allow us to be compliant, which is very important,” he added.
In February last year, the company expanded its services to over 10 African countries as it sought to expand its presence on the continent.
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Some of the markets it entered were South Africa, Tanzania, Uganda, Zimbabwe, and Rwanda.
Out of these, the company will be setting up physical and virtual offices in Zimbabwe, South Africa, Ghana, Egypt, and Tanzania.
WorkPay is a cloud-based human resources management and payroll solution for small and medium-sized businesses (SMBs) in Africa.
Its time tracking and salary disbursement tools help African businesses save money and time by eliminating ghost workers from their payroll and the inefficiencies associated with cash payments.
Currently, it processes more than 300 payrolls per month from more than 400 SMBs.