Investment of $5M by Visa and associates in Workpay for enhancement of HR and payroll services

Workpay, a Kenyan HR, payroll, and benefits platform, has secured $5 million in Series A funding, marking a significant step towards revolutionising human resource management across the African continent.

The 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. Ryosuke Yamawaki of Verod-Kepple Africa Ventures and Ngetha Waithaka of Norrsken22 are thrilled to continue supporting Workpay's journey, while Thomas Otter of Acadian Ventures is excited about increasing their investment in the company.

Across Africa, businesses face complex employment landscapes, including diverse regulations, dispersed teams, and hybrid work environments. Workpay addresses this gap by providing end-to-end HR and payroll solutions tailored for African businesses. The platform ensures compliance for employees across various markets and manages payroll and tax on a single integrated platform across various African markets.

Paul Kimani, CEO of Workpay, aims to make the platform the go-to solution for HR, payroll, and benefits management. The new funds will be used to expand Workpay across Africa and enhance its financial services offerings. With the integration of financial services, Workpay's growth potential is tremendous, as stated by Ngetha Waithaka.

Founded by Paul Kimani and Jackson Kibigo, Workpay offers a comprehensive cloud-based HR and payroll SaaS platform. The platform manages the entire employee journey, from onboarding to offboarding, and includes features such as payroll processing, time tracking, leave management, expense tracking, performance management, benefits administration, and Employer of Record (EOR) services.

Payroll management poses a significant challenge for Small and Medium Businesses (SMBs), with 80% of them still relying on manual methods like Excel and Google Sheets. Workpay's platform is designed to streamline these processes, making HR and payroll management more efficient and less error-prone.

Africa has a large working-age population that is underserved by existing HR and payroll tools, according to Ngetha Waithaka. Workpay, with its advanced platform and commitment to compliance, is positioned to lead the market over the next decade, according to Thomas Otter.

With this funding, Workpay is one step closer to achieving profitability, a significant milestone for the company. Ngetha Waithaka of Norrsken22 is enthusiastic about Workpay's potential to transform employee management for Africa's SMEs. Ryosuke Yamawaki of Verod-Kepple Africa Ventures shares this sentiment, expressing his continued support for Workpay's journey in revolutionising human resource management across the continent.

Investment of $5M by Visa and associates in Workpay for enhancement of HR and payroll services