Nigerian HR-tech startup PaidHR has announced the successful close of a $1.8 million seed funding round, led by Accion Venture Lab, alongside participation from returning investors Zrosk, Chui Ventures, and Zedcrest Capital. This round brings the company’s total external funding to $2.3 million, following its earlier $500,000 pre-seed round in 2022.
PaidHR was founded to streamline payroll and HR operations for African businesses. And now, it is rapidly gaining traction across various sectors including logistics, retail, manufacturing, and banking. In 2024 alone, the platform processed over $18 million (₦29 billion) in salaries and onboarded over 20,000 employees—a testament to the growing trust it has earned from businesses handling sensitive payroll and workforce data.
CEO Seye Bandele emphasized that the fresh capital injection will fuel regional expansion, product innovation, and talent acquisition. “We are building HR management for the African context. This funding allows us to scale our vision, expand our reach, and deliver more value to our clients,” he said.
Bandele noted that the support from both new and existing investors is a strong endorsement of the company’s mission and the broader potential of African businesses.
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PaidHR plans to channel the new funding into accelerating product development, with a focus on intuitive HR tools, expanding its team to enhance customer support, and broadening its geographical reach across Africa. Future product upgrades will include features for employee financial wellness, compliance automation, and advanced HR analytics.
In an era of global economic uncertainty, PaidHR views this investment as a resounding vote of confidence. “We’re humbled by the belief our investors have shown. It signals strong faith in Africa’s business ecosystem and in our commitment to empowering it,” the company stated.
