Workpay, a Nairobi, Kenya-based startup offering cloud-based HR, payroll, and benefits solutions, has raised $5 million in Series A funding.
Investors
The funding round was led by Pan-African venture capital firm Norrsken22, with new investments from Visa and Plug n Play, alongside existing backers.
Norrsken22 is a technology growth fund, backed by over 30 prominent unicorn founders, partnering with exceptional entrepreneurs building Africa’s next tech giants. Founded in 2016, it is based in Cape Town, South Africa.
Workpay Use of Funds
The company will use the fresh funds to expand its financial services, enhance performance management tools with AI, and support overall growth.
About Workpay
Founded by Paul Kimani and Jackson Kungu, Workpay provides human resources (HR), payroll, and employee benefits solutions. The company has evolved from a payroll-focused service into a comprehensive HR platform, incorporating features such as performance management and financial services. Workpay serves two main types of customers: local businesses with 20-100 employees in a single country, and larger businesses with 100-1,000 employees operating across multiple countries. The company currently serves over 1,000 businesses in 20 African countries.
Funding Details
Company: Workpay Africa Limited
Raised: $5.0M
Round: Series A
Funding Date: August 2024
Lead Investor: Norrsken22
Additional Investors: Visa, Plug n Play
Company Website: https://www.myworkpay.com/
Software Category: HR, Payroll, and Benefits
Source: https://techcrunch.com/2024/08/22/kenyan-hr-and-payroll-startup-workpay-lands-visa-as-investor-in-5m-round/