Visa joins African payroll provider Workpay in $5 million round

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The financing was led by technology growth capital firm Norrsken22, with additional participation from Y Combinator, Saviu Ventures, Axian, Plug n Play, Verod-Kepple Africa Ventures and Acadian Ventures. It follows Workpay’s successful $2.7 million pre-Series A round in early 2023.

Co-founded by Paul Kimani and Jackson Kibigo, Workpay provides a cloud-based payroll and HR SaaS platform that manages the entire employee and contractor journey for companies across Africa. It includes features such as payroll, time tracking, leave management, expense tracking, performance management, employee benefits administration, and employer of record (EOR) services, among others.

The company claims to have integrated over 1000 companies in over 20 countries on the African continent on the platform.

Kimani says: “Our goal is to become the solution of choice for employers and employees in managing human resources, payroll and employment-related benefits.” Our deep understanding of regulation across the African continent enables companies operating in multiple countries are to manage payroll and tax accounting via a single integrated platform. This increase will help Workpay achieve profitability, a huge milestone for our business.”