Workpay, an HR and payroll startup founded by Kenyan tech entrepreneur Paul Kimani, has raised $2.7 million in its pre-Series-A funding round, led by global and Africa-focused investors.Â
With this funding, Workpay plans to expand its HR, payroll, compliance, and benefits tools across Africa. The funding round included prominent investors like Launch Africa Ventures, Saviu Ventures, Acadian Ventures, and French financier Proparco, among others.
This latest round of funding follows a successful seed funding round in 2021, where the startup raised $2.1 million to fuel its growth at the time.
The capital injection received by the Kenyan HR payroll startup will fuel an aggressive expansion in line with its strategic roadmap, as the company aims to roll out its services across 40 African countries, nearly doubling its current reach.
As more small and medium-sized businesses seek to streamline their operations by adopting HR payroll technology solutions, Workpay is well-positioned to capitalize on this growing trend. The recent funding will further support the company’s mission of empowering businesses to manage and pay their employees across Africa, regardless of location.
Workpay, which was founded by Kenyan tech entrepreneurs Kimani and Jackson Kungu in 2017 as TozzaPlus, operates as a cloud-based human resources management and payroll solution for SMBs in Africa.
Since its inception, Workpay has expanded its operations across Africa and now provides HR solutions to over 600 businesses in more than 20 countries. As remote work arrangements become more prevalent, the company has added new product lines to meet the changing needs of its customers.
Under the leadership of Kimani, the full-stack Kenyan HR payroll startup has doubled its revenue every year since 2021 and now serves nearly 700 companies, processing $200 million in payroll value annually.
Kimani’s journey with Workpay is an inspiring example of how African tech startups can make a global impact. He has participated in prestigious fellowship programs, including Y Combinator and the eFounders Fellowship, which have helped him build valuable connections and insights.
With recent funding support, Kimani and his team are well-positioned to continue making waves in the African HR and payroll space.
