PaidHR, a Nigerian HR-tech startup, has secured $1.8 million in seed funding to scale its payroll and human resource management platform across Africa, marking a significant milestone in its mission to support businesses with localised HR solutions.
Seed Round Led by Accion Venture Lab with Strong Investor Backing
The funding round was led by Accion Venture Lab, with additional participation from Zrosk, Chui Ventures, and Zedcrest Capital. This new capital injection brings PaidHR’s total funding to $2.3 million, including its earlier $500,000 pre-seed round in 2022. “We’re building HR management for the African context,” said Seye Bandele, CEO of PaidHR. “This funding allows us to scale our vision, expand our reach, and deliver even more value to our clients across the continent.”
Over $18 Million in Salaries Processed in 2024
In 2024, PaidHR made significant strides, including:
- Processing over $18 million (₦29 billion) in salaries
- Onboarding more than 20,000 employees onto its platform
- Supporting clients in key sectors like logistics, retail, manufacturing, and banking
This growth underscores PaidHR’s value in providing secure, reliable, and locally adapted HR solutions for African enterprises and SMEs.
Use of Funds: Scaling HR Tech Across Africa
With the $1.8 million seed funding, PaidHR plans to:
- Accelerate product development to deliver intuitive, user-friendly HR tools
- Expand its team to enhance customer support and operations
- Broaden its geographic reach across more African markets
- Launch new features, including:
- Employee financial wellness tools
- Compliance automation
- Advanced HR analytics and insights
In a statement, they mentioned, “This investment is a strong vote of confidence in our vision and in the future of African businesses,” the company said in a statement. “We are committed to empowering employers with the tools they need to scale efficiently and compliantly.”
Empowering African Businesses Through HR Innovation
As African businesses increasingly digitize operations, PaidHR aims to become the go-to HR and payroll partner for growing enterprises on the continent. Its solutions are tailored to the unique regulatory and operational needs of African businesses, combining technology with localized compliance and insights.
The Road Ahead for PaidHR
Looking forward, PaidHR is positioning itself as a key enabler of business growth across Africa, offering secure payroll processing, streamlined onboarding, and actionable HR data to help companies manage their workforce with confidence.
