New Investments
Kenyan HR Startup Workpay Secures $5 Million in Series A Funding to Expand HR and Financial Services Across Africa
The investment will help the company expand its operations across Africa and develop new financial services offerings.
Workpay, formerly known as TozzaPlus, provides cloud-based HR management and payroll solutions for small and medium-sized businesses in Africa.
Its tools help businesses save time and money by eliminating inefficiencies associated with cash payments and ghost workers.
The latest funding round follows a previous $2.7 million pre-Series A raise earlier this year.
Other investors participating in the Series A include Visa, Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures, and Acadian Ventures.
“Our goal is to become the go-to solution for employers and employees in managing HR, payroll, and work-related benefits,” said Paul Kimani, CEO of Workpay.
“This raise will support Workpay to reach profitability, a huge milestone for our company.”
Ngetha Waithaka, general partner at Norrsken22, expressed confidence in Workpay’s potential to revolutionize HR and payroll management in Africa.
“Africa boasts one of the largest working-age populations in the world, and they remain grossly underserved by existing HR and payroll tools,” Waithaka said.
“With the addition of integrated financial services, Workpay’s potential for growth is immense.”
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like...
NuRAN Wireless Secures $5 Million Loan Facility to Expand Network in Africa
NuRAN Wireless, a leading provider of mobile and broadband wireless infrastructure solutions, has secured a $5 million loan facility with Cygnum Capital’s Facility for Energy Inclusion (FEI) to accelerate its network deployment in Africa.
Egyptian fintech startup Money Fellows secures $4 million from Arzan Venture Capital
The strategic funding is set to accelerate Money Fellows’ mission of transforming traditional savings and credit associations through its innovative tech-driven platform.
Africa50 Pledges $100 Million to Boost Renewable Energy in Africa Through IRENA Initiative
The International Renewable Energy Agency (IRENA) has welcomed Africa50, a pan-African infrastructure and investment group, as a new partner in its Energy Transition Accelerator Financing (ETAF) platform.