Visa has joined a USD 5 million Funding Round in Kenyan Payroll Provider Workpay
An additional participation from Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures, and Acadian Ventures was included in the investment. Norrsken22, a company that specializes in growth equity for technology companies, was the primary investor. It follows the successful pre-series A round of $2.7 million that Workpay closed in the beginning of 2023.
Workpay, which was established by Paul Kimani and Jackson Kibigo, is a payroll and human resources software as a service (SaaS) platform that is hosted in the cloud and manages the whole journey of employees and contractors for businesses that are located in Africa. Payroll processing, time tracking, leave management, expense monitoring, performance management, employee benefits administration, and employer of record (EOR) services are just some of the features that are included in this system.
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The company asserts that it has successfully integrated more than one thousand enterprises from twenty or more nations on the African continent into the platform.
As Kimani puts it, “Our objective is to become the solution of choice for both employers and employees when it comes to managing human resources, payroll, and benefits related to work.” With our comprehensive knowledge of the regulations that apply across the African continent, we are able to provide businesses that operate in numerous countries with the ability to manage their payroll and taxes through a single integrated platform. Workpay will be able to reach profitability with the help of this rise, which is a significant milestone for our organization.
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