PaidHR, an African HR and payroll startup, has announced the close of its $1.8 million seed funding round, led by Accion Venture Lab, with participation from returning investors Zrosk, Chui Ventures, and Zedcrest Capital.
Founded in 2020 by Seye Bandele (CEO) and Lekan Omotosho (CTO), PaidHR was born from a simple setup—just a whiteboard, two laptops, and a belief that African businesses deserved better. Today, the company has grown into a cross-continental HR platform serving over 250 businesses across Nigeria, Kenya, and South Africa, and supporting payroll in 49 currencies.
“We are building HR management for the African context,” said Bandele. “This funding allows us to scale our vision, expand our reach, and deliver even more value to our clients.”
Transforming HR for Africa’s Workforce
PaidHR’s all-in-one platform simplifies HR administration, automates payroll (both local and cross-border), and promotes financial inclusion through features like Earned Wage Access. In 2024 alone, the company processed over $18 million in salaries and onboarded more than 20,000 employees, establishing itself as a trusted partner for businesses across various industries, including logistics, retail, manufacturing, banking, and others.
Strategic Growth Plans
With the fresh injection of capital, PaidHR plans to:
- Accelerate product development for enhanced HR functionality.
- Expand its team to bolster customer support and product innovation.
- Deepen market penetration across Africa, particularly in the growing SME and enterprise sectors.
- Innovate around employee financial wellness, compliance automation, and HR analytics.
A Vote of Confidence in Africa’s Future
Despite a challenging global economic climate, investors remain confident in PaidHR’s mission. The startup’s success reflects a broader belief in the resilience and potential of African businesses, as well as the need for tailored, scalable digital infrastructure.
This round builds on PaidHR’s $500,000 pre-seed raise in 2022 and marks a significant step toward becoming the go-to HR and payroll solution for Africa’s rapidly evolving workforce.
