Workpay, a payroll, benefits, and compliance software company based in Nairobi, Kenya, has expanded its tentacles into Nigeria with the goal of enabling businesses across the country to swiftly and securely transfer approved salary payments to their employees.
Small and Medium Enterprises (SMEs) can easily manage and pay their employees from anywhere in Africa, thanks to the Software As A Service (SaaS) for B2Bs’ designed web portal and mobile self-service app, which allows them to track time, process a locally compliant payroll, and reimburse their employees.
This comes a year after the two-year-old company secured a $100,000 investment from Kepple Africa in 2019, the year it was founded, and raised $2.1 million in a seed funding round to fully accelerate expansion to additional markets, starting with Nigeria.
Y Combinator, Soma Capital, Musha Ventures, and P1 Ventures were among the angel investors who participated in the round, which was led by Kepple Africa Ventures.
The company currently has over 300 active clients and processes monthly payroll disbursements to banks and mobile wallets worth Ksh. 278 million (USD 2.5 million).
Commenting on the startups expansion to Nigeria, Workpay CEO and co-Founder, Paul Kimani, said, “It is assuring to support companies like Flutterwave, Paystack, and Yoco to name a few, in their growth endeavors towards conquering the continent. I am confident that what we are building resonates with the pains of companies of different nature and continuously meets their needs as they grow. We believe Nigeria will be the key to unlocking immense potential for wide adoption, not only in West Africa but throughout Africa.”
Workpay secured seed funding of Ksh. 233 million (USD 2.1 million) last year to fully accelerate expansion into new markets, starting with Nigeria. The company is currently working on a Series A round.
