Kenyan startup WorkPay, which builds human resources ( HR) and payroll solutions for Africa, has raised US$ 2.1 million in seed funding to boost its growth.
Originally called TozzaPlus until rebranded in 2019, WorkPay is a cloud-based human resource management and payroll system for small and medium-sized enterprises ( SMEs) in Africa. Start-up Time Monitoring and Salary Disbursement Software help African companies save time and resources by removing phantom employees from their payroll and cash-based inefficiencies.
WorkPay is currently handling payrolls for more than 25.000 workers in Kenya and has more than 300 SMBs on its network, and is now expected to expand further after raising US$ 2.1 million in funding.
The round is led by Kepple Africa Ventures, which also invested US$ 100,000 in WorkPay in 2019, and also includes participation from Y Combinator (WorkPay recently participated in the Silicon Valley accelerator programme), Soma Capital, Musha Ventures, P1 Ventures, and a variety of angel investors.
“This new investment will give us the ability to extend our human resource management and payroll processing resources to SMBs and to extend our business clients across East Africa. We are fortunate to have the help of some amazing people on our journey to make it easy for companies to handle and pay workers across Africa, “said Paul Kimani, Chief Executive Officer ( CEO) and co-founder of WorkPay.
Ryosuke Yamawaki, general partner of Kepple Africa Ventures, said that when his team first met with the WorkPay team on a one-on-one pitch day in September 2018, it was clear that they were different from anyone else they met in Nairobi.
“They are different in the way they define their key customers, understand their real pains, and design specific solutions. It’s no wonder that they’ve come this far.