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When we started PaidHR, all we had was a whiteboard, two laptops, and a belief that African businesses deserved better tools for managing their people and paying them right.
Fast forward to today, and we have just closed a $1.8 million seed round led by Accion Venture Lab, with support from our returning investors Zrosk, Chui Ventures, and Zedcrest Capital!
At PaidHR, we believe in the incredible potential of African businesses and the hardworking people who power them. We’ve always been driven by a simple yet powerful idea: that managing your team and payroll shouldn’t be a source of stress, but a catalyst for growth and well-being.
We are humbled by the unwavering belief our investors have in our mission, especially in a time when the global economic landscape can feel uncertain. This investment is a resounding vote of confidence in the future of African businesses and in our commitment to empowering them.
Since 2020, we’ve been on an incredible journey, expanding our reach beyond Nigeria to support businesses and tech startups across Kenya and South Africa. We’re particularly proud to serve over 250 businesses in logistics, retail, manufacturing, banking and several other industries that form the backbone of Africa’s workforce.
Doing the work, we try to ensure that our all-in-one platform goes beyond formalising HR administration and automating local and cross-border payroll (in 49 currencies!). We’re also committed to financial inclusion and promoting economic resilience for Africa’s growing workforce through tools like Earned Wage Access for employees.
Our Journey So Far, and What's Next
We've been quietly working, innovating, and growing. In 2024 alone, we proudly processed over $18 million (₦29 billion) in salaries! We've onboarded more than 20,000 total employees onto our platform, building trust with the sensitive workforce data and payroll processes of our clients.
This latest round marks a pivotal moment for us. This investment builds on our pre-seed funding of $500,000 in late 2022, and with this renewed support, we're ready to accelerate our impact. We plan to:
- Accelerate product development: Bringing even more innovative and intuitive HR solutions to your fingertips.
- Expand our team: Ensuring you always have the support you need, every step of the way.
- Increase our presence across Africa: Reaching more businesses in rapidly growing enterprise and SME sectors, helping them thrive.
- Continue innovating around employee financial wellness, compliance automation, and HR analytics: Delivering even greater value to businesses and their amazing teams.
As Seye Bandele, our CEO, aptly put it, "We are building HR management for the African context, and this funding allows us to scale our vision, expand our reach, and deliver even more value to our clients. With the support of Accion Venture Lab and our returning investors, we are well-positioned to help businesses grow and scale more effectively across borders."
To every business that’s trusted us with their payroll, to every employee who’s used our wallet, and to every investor who’s believed in our vision; thank you.
We’re building the future of work in Africa. And we’re just getting started.
Want to see what the future of payroll and people ops looks like? Book a demo or talk to our team to learn how PaidHR can work for your business.