Workpay Kenya Secures $5 Million in Series A Funding to Expand Across Africa
Workpay, a cloud-based platform offering human resource management, payroll, and benefits solutions to organizations with employees across Africa, has raised $5 million in Series A funding to support its expansion across the continent and enhance its financial service offerings.
Initially known as TozzaPlus, Workpay provides a cloud-based human resource and payroll solution tailored to small and medium-sized enterprises (SMEs) in Africa. The startup's time-tracking and salary payment tools enable African businesses to reduce costs and increase efficiency by eliminating ghost workers from their payroll and minimizing cash payment inefficiencies.
Last year, WorkPay raised $2.7 million in pre-Series A funding and has now secured a $5 million Series A funding round led by Norrsken22. The round also saw participation from Visa, Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures, and Acadian Ventures.
Paul Kimani, CEO of Workpay, stated, "Our goal is to become the go-to solution for employers and employees in human resource management, payroll, and work-related benefits. Our in-depth understanding of regulations across the African continent enables businesses operating in multiple countries to streamline their HR and payroll processes. This funding will enable Workpay to achieve profitability, a significant milestone for our company."
