PaidHR, a Nigerian startup that helps companies handle their HR features, has raised a $1.8 million seed spherical. The spherical completes PaidHR’s preliminary fundraising, which started with a $1.5 million goal first reported by TechCabal in October 2024.
PaidHR plans to deepen its market share inside Nigeria, speed up product improvement, and increase its buyer success groups with the most recent spherical of funding. The funding was led by Accion Enterprise Lab, with participation from present buyers Zrosk, Chui Ventures, and Zedcrest Capital.
The brand new funding spherical brings PaidHR’s complete funding to about $2.9 million. The HR-tech startup raised $500,000 pre-seed in 2022 and a further $600,000 in 2023.
Based in 2020 by Seye Bandele and Lekan Omotosho, PaidHR gives a complete platform for payroll, HRIS, compliance, efficiency administration, and Earned Wage Entry (EWA). Its cross-border payroll system helps 49 currencies, empowering companies to pay workers of their native currencies and navigate the complexities of worldwide HR administration.
The startup at present serves over 200 companies, producing income by means of subscription charges and transaction charges from payroll processing. In 2024, PaidHR processed ₦20 billion ($13 million) in salaries, almost doubling the quantity processed in 2023.
“We’re proud to assist the staff as they ship scalable, cost-effective options that assist strengthen small companies and allow workers to take management of their monetary lives,” mentioned Amee Parbhoo, managing companion at Accion Enterprise Lab.
The startup has lately launched an worker pockets app that permits workers to entry and spend their wages without having to switch funds to a financial institution. PaidHR claims the pockets app at present processes over ₦1.3 billion ($835,134) month-to-month.
