TechPression

Category: Startups

  • Moroccan startup Userguest secures $2.4 million to boost growth

    Moroccan startup Userguest secures $2.4 million to boost growth

    Userguest, a Moroccan hospitality-focused startup, has raised $2.4 million in funding to enhance its market reach and boost product development. Founded in 2018 by Ahmed Chami, Assil Bernossi, and Hicham Benyebdri, the company specialises in helping hotels maximise direct bookings by converting website visitors into paying guests through personalised messaging and intelligent incentives. 

    With operations in over 30 countries, Userguest has generated over $100 million in direct revenue for hotels since 2019. The startup plans to strengthen its sales team to deepen its presence in key markets and position itself as a leader in direct revenue optimisation.

    Read also: Healthtech startup secures $11M to combat maternal mortality

    Key Investors and Strategic Growth

    The funding round was led by Al Mada Ventures, with participation from CDG Invest, Saviu Ventures, UM6P Ventures, Kalys VC, Plug & Play, and angel investors Philippe Limes and Thane Kuhlman. Co-founder Hicham Benyebdri expressed confidence in the company’s ability to revolutionise hotel revenue optimisation. “Having earned the trust of leading hotel brands, we are ready to elevate Userguest, enhancing hotel performance and enriching user experience,” Benyebdri stated, highlighting the importance of this investment for further expansion and innovation.

    Userguest Innovating Hospitality Tech

    Userguest’s mission is to set new benchmarks for innovation in hotel technology. Co-founder and CTO Ahmed Chami emphasised that the startup is developing a new product to address critical gaps in the market while refining its existing platform.

    This innovation aligns with the broader trend of the African hospitality sector’s growing technology adoption, particularly as the industry is projected to reach $731.4 billion by 2032. “We aim to provide tools that simplify revenue generation for hotels while offering enhanced experiences for travellers,” Chami shared.

    Read also: SEO for startups: A guide to boosting online visibility

    Tapping into Africa’s Hospitality Boom

    The African hospitality industry is undergoing significant growth, and the increasing adoption of technology to improve customer experience, streamline operations, and promote sustainability is reshaping the sector. Companies like Userguest can capitalise on this trend by offering solutions that help hotels optimise performance.

    With the recent influx of funds, Userguest is poised to further solidify its standing as a tech innovator in the hospitality industry while contributing to the broader digital transformation of African businesses.

    As Userguest continues its growth trajectory, its plans to introduce new tools and expand its market presence signal a promising future. By providing solutions that help hotels convert visitors into guests more efficiently, Userguest addresses a critical need within the hospitality industry and enables hotels to navigate the digital landscape better.

    With its focus on both innovation and expansion, Userguest’s recent funding will propel the company to new heights, benefiting both hoteliers and travellers while playing a vital role in the future of Africa’s hospitality sector.

  • Regfyl secures $1.1 million in pre-seed investment to expand and develop compliance solution

    Regfyl secures $1.1 million in pre-seed investment to expand and develop compliance solution

    Regfyl, a Nigerian startup, received $1.1 million in pre-seed funding to improve its platform, which helps businesses maintain compliance. The round of funding, which includes an investment from Rally Cap and help from Techstars, DCG, Musha Ventures, Africa Fintech Collective, and private investors, will allow the business to hire more people, mainly in engineering, sales, and customer service.

    BrandSpur’s business and economy news indicates that Regfyl plans to develop a supply chain compliance solution and expand its product line.

     Read also: Healthtech startup secures $11M to combat maternal mortality

    Regfyl’s impact on transaction monitoring in Nigeria

    Tomiwa Erinosho and Tunde Ibidapo-Obe started Regfyl in 2023. The company has grown significantly since then, now offering businesses a complete solution for monitoring transactions, filing with regulators, and welcoming new customers. The features that make filing with government agencies like the Securities and Exchange Commission and the Central Bank of Nigeria easy are especially useful for financial companies.

    Regfyl’s price structure includes a ₦2 million (about $1,220) yearly subscription charge. Further, per-use fees are charged based on how many customers a business screens or watches. Currently, the group works with over 20 businesses, such as Cowrywise, VFD Bank, Coronation, Piggyvest, and Budpay.

    The future of compliance solutions with Regfyl in Nigeria

    Regfyl’s complete compliance solution sets it apart in the competitive Nigerian financial technology sector.

    Regfyl manages regulatory filing, transaction monitoring, and onboarding, unlike SmileID, Dojah, and Youverify, which focus on KYC. This solution addresses the financial services industry’s growing trust and efficiency needs.

    Read also: 11th Africa Fintech Summit kicks off in Kenya

    According to reports, banks in Nigeria lost $25.7 million to fraud in the second quarter of 2024 alone. Regfyl is trying to assist institutions in limiting losses caused by the growing incidence of financial crime in Nigeria.

    A security, regulatory compliance, and fraud detection technology from the firm aims to simplify financial regulation and build confidence.

    Regfyl also intends to become Africa’s leading trust operating system by expanding its compliance solutions into supply chain management, gaming, and e-commerce.

    The co-founder, Tunde Ibidapo-Obe, pointed out that it is essential to establish faith in the digital economy. In his words, “Trust is the currency of the digital economy, and we are focused on being the operating system that underpins this trust across the continent.”

  • Healthtech startup secures $11M to combat maternal mortality

    Healthtech startup secures $11M to combat maternal mortality

    A renowned African healthtech business, Field, launched a route-to-market service to offer novel therapeutics to address maternal mortality, newborn and child health, and nutrition.

    This program will use Field’s distribution, finance, and proprietary technology. The latter now supports a network of more than 40,000 healthcare practitioners in urban and rural parts of Nigeria and Kenya.

    Read also: eHealth Partnerships in East Africa

    Revolutionizing Healthcare: The Gates Foundation’s Impact 

    Field’s commitment to introducing new medicines and supply chain reform to address Africa’s most pressing health issues is supported by the Bill & Melinda Gates Foundation’s initial funding of $11 m.

    Since its start in 2015, Field has made it easier for over 800 million health actions to happen in more than 60 therapeutic areas. These include family planning, HIV/AIDS, and tuberculosis. They are commencing in Kenya and Nigeria, possibly spreading to other areas.

    The field will use its unique skills in dealing with complicated distribution lines to speed up the time it takes for new therapies and technologies to reach the market.

    Private healthcare providers, hospitals, and State and Federal healthcare authorities will undergo a massive digital transformation with financing possibilities to improve operations and purchasing. Healthcare providers can also profit from last-mile deliveries and pharma-grade refrigeration.

    A coalition of governments, manufacturers, and other stakeholders will strengthen one of the continent’s most ambitious maternal health programs.

    Innovations in Maternal Health: A New Hope 

    One of the biggest problems in healthcare on the continent is the death rate for mothers. It is 45 times more likely for a woman in Africa to die while giving birth than in Europe. WHO says that 69% of all maternal deaths in the world happened in Africa, with Nigeria alone being responsible for 29% of all maternal deaths in the world in 2020.

    Field’s service will offer African expectant mothers access to emerging therapies like heat-stable carbetocin and calibrated drapes, addressing postpartum haemorrhage and related complications and highlighting the need for improved maternal health services.

    Read also: Three Nigerian students launch healthcare startup for elderly people

    Field, a health technology company, has announced a new initiative to improve public health through technology. The initiative, funded by the Bill & Melinda Gates Foundation, aims to improve access to quality care and maternal and child survival in every setting. Field believes that without coordinated systems and processes, progress in healthcare delivery will slow or slip, highlighting the importance of healthcare technology companies in this challenging economic climate.

    Field, its funders, and we are pleased to work on this technology-powered infrastructure model for public health care.

    Along with this new project, Field is expanding its technological solutions globally. Its Field Supply platform is Africa’s largest pharmaceutical supply chain.

    Shelf Life distributes over 3,000 quality products in over 50 therapeutic areas to over 2,500 pharmacies and hospitals in 24 cities in Nigeria and Kenya, including government facilities, large hospital systems, retail chains, insurance companies, and family-owned drug stores.

    The platform offers trade financing for priority therapies and equipment to overcome working cash constraints that prevent medical intervention investment.

  • Kenyan startup boosts literacy and numeracy with e-learning

    Kenyan startup boosts literacy and numeracy with e-learning

    Ed-tech startup Esoma Solutions was founded in 2018 by Julius Irungu, Kelvin Kung’u, and Esborn Waithuki. It offers e-learning solutions for K-12 learners, with its flagship product, Esoma Kids, providing online foundational literacy and numeracy tools. Initially, Esoma Solutions launched Esoma-KE, an exam preparation platform for children aged 4-10.

    Over time, the company has broadened its offerings to encompass Esoma Kids, an adaptable educational platform with a subscription model. This platform leverages gamification to make fundamental literacy and numeracy skills more engaging for young learners.

    Read also: Kenyan startups BuuPass and mTek improve travel insurance

    Unlocking the learning power of Esoma kids

    The Esoma Kids platform is based on the idea that by providing engaging activities and challenges, children will stay engaged and eager to learn

    This strategy makes learning enjoyable while improving retention and comprehension of crucial concepts.

    According to Irungu, the most serious gaps that are addressed through Esoma Kids are the significantly low levels of foundational literacy and numeracy proficiency in Kenya and Sub-Saharan Africa at large.

    In Kenya, 60% of fourth graders cannot effectively solve mathematics problems or read a grade-three-appropriate text.

    In Sub-Saharan Africa, 89% of kids cannot read and comprehend by age ten. These deficits have compelled the search for alternate and complementary approaches to providing formal education.

    Turning investments into growth: Esoma’s success story

    Esoma Solution has achieved a significant milestone in its funding journey, securing $112,555 in equity-free Investments. This influx of capital will supplement the company’s revenue and the founders’ initial investment, providing a boost to the startup’s growth prospects.

    Other Kenyan players in the market include Angaza Elimu, Akili Kids, Ubongo, and EIDU. Esoma has witnessed a significant increase in popularity. Its exam preparation platform will have 600,000 users by 2023, and Esoma Kids, founded the same year, is following suit.

    Read also: Kenya’s first Sci-Fi series “Subterranea” premieres on Showmax

    The firm has received various funding, including grants, most recently from the Mastercard Foundation.

    According to Irungu, the company’s founder, this funding will be crucial in driving Esoma Solutions towards break-even within the next 18 months.

    Moreover, the Startup is poised to pursue profitability in the subsequent period, leveraging its innovative e-learning solutions and expanding its customer base to drive sustainable growth and success

    Having established a solid foundation in Kenya, they are poised to take their innovative e-learning solution to the broader region.

    Their expansion plans involve building strategic partnerships and entering new markets, such as Tanzania, Uganda, Rwanda, and others, to improve education.

    By expanding their wealth, they aim to positively impact education in the region, driving growth and improving outcomes for all.

  • Apply for Lagos Innovates free Workspace Voucher to boost your tech startup journey 

    Apply for Lagos Innovates free Workspace Voucher to boost your tech startup journey 

    Early-stage tech startups in Lagos have a unique opportunity to accelerate their growth through the Lagos Innovates Workspace Voucher programme, which is now open for applications.

    This initiative is designed to support promising startups by providing access to state-of-the-art workspaces at significantly reduced costs, enabling founders to focus on innovation and business development without the burden of high rental expenses.

    Read also: Lagos State Government launches LAG-UP to empower youths with tech skills

    State-of-the-art Workspaces for Early-Stage Startups

    The Workspace Voucher Programme offers eligible startups discounts of 30% to 75% on membership costs at any of Lagos Innovates’ Partner Hubs for 3 to 12 months. This initiative targets startups in the ideation phase or those with very early revenue, providing them a conducive environment to grow and thrive.

    The program allows startups to access top-notch facilities and equipment, collaborative workspaces that foster innovation, and valuable networking opportunities within Lagos’ vibrant startup ecosystem. These benefits are tailored to ensure that founders can focus on building their ventures without the financial strain often accompanying early-stage entrepreneurship.

    Competitive and Merit-Based Allocation

    The application process is competitive and merit-based, ensuring that the vouchers are awarded to the most promising startups. Eligible ventures are those that have not yet been incorporated or have been incorporated for less than a year, have a small team of co-founders without paid staff, and generate less than one million naira in monthly revenue. Additionally, startups without third-party capital, such as grants or equity, are encouraged to apply.

    Startups that meet these criteria and are ready to take their ventures to the next level are urged to apply for this transformative opportunity. The Workspace Voucher Programme reduces the cost of accessing high-quality infrastructure and positions startups to scale their businesses effectively.

    The Lagos Innovates Workspace Voucher Programme is an exceptional opportunity for early-stage startups to secure a foothold in Lagos’ burgeoning tech ecosystem. This initiative empowers tech founders to concentrate on what truly matters—building successful, innovative businesses by alleviating the costs associated with workspace rentals.

    Read also: Tekedia Capital invests in Edtech startup Quizac, revitalizing its gamified learning platform

    Applications are currently open, and interested startups are encouraged to apply to secure their place in one of Lagos Innovates’ Partner Hubs. Visit lagosinnovates.grantplatform.com to apply and learn more about how the Workspace Voucher Programme can support your startup journey.

    About Lagos Innovates

    Lagos Innovates is an initiative by the Lagos State Employment Trust Fund (LSETF) designed to support the growth of the state’s technology ecosystem. It provides tech enthusiasts, founders, and startups with access to essential resources and support.

    Through various tech-focused programs, Lagos Innovates aims to foster innovation, strengthen the tech talent and funding pipeline, and position Lagos as a leading startup hub in Africa. It is the first in sub-Saharan Africa, with a long-term goal of driving tech-driven entrepreneurship.

  • Chpter secures $1.2M to fuel Kenyan e-commerce growth

    Chpter secures $1.2M to fuel Kenyan e-commerce growth

    Chpter, a Kenyan e-commerce startup, has secured $1.2M in pre-seed funding. The Marketforce co-founders’ new venture is levelling its tech stack and expanding into Egypt and Nigeria, preparing for a digital commerce boom.

    Chpter, launched in 2022 by some visionary founders (Tesh Mbaabu, Mesongo Sibuti, Kuria Kelvin, and Mark Kiarie), is transforming the social media landscape for businesses.

    By integrating innovative chat, order, and payment functionalities, Chpter seamlessly transforms social media channels into transactional sales platforms. This enables businesses to leverage social media’s vast user base, increase conversions, and reduce friction in the customer journey.

    Read also: Safaricom wants Kenya’s Communications Authority to restrict Starlink, other ISPs without physical presence

    This integration allows for personalised customer interactions, streamlined ordering processes, and secure payment transactions, ultimately creating a holistic and immersive shopping experience that drives revenue growth and customer satisfaction.

    Chpter’s business model, funding, and expansion plans

    The company’s revenue model is anchored on a monthly subscription fee, supplemented by transaction fees for payments processed on its platform.

    Boosting an impressive client roster that includes Britam, Kicks Kenya, and Phoneplace, Chpter is currently operational in Kenya and South Africa and poised for exceptional growth.

    Tesh Mbaabu, Chpter’s co-founder and CEO, told a reporter that they are investing in their tech stack to offer an end-to-end product, connecting the APIs from social media platforms such as WhatsApp and Instagram with popular e-commerce and customer relationship management systems like Shopify and Woocommerce.

    Pani, an investment firm zeroing in on Africa, spearheaded by Cellulant’s ex-CEO Ken Njoroge, took the lead in the funding round. A syndicate of investors joined in, comprising Plesion Capital, Techstars, Norrsken, Renew Capital, ViKtoria Ventures, and angel investors, like Nala’s Benjamin Fernandes and Workpay’s Paul Kimani and Jackson Kibigo.

    Chpter secures funding, accelerator support in conversational commerce

    The successful fundraising is a resounding endorsement from investors in the fledgling startup.

    Chpter’s co-founders, who previously helmed Marketforce, a YC-backed Kenyan e-commerce giant once worth over $100 million, have garnered support from familiar investors, with some having previously backed Marketforce.

    Read also: Vodacom to invest R800 million to bridge digital divide in South Africa rural areas

    However, Mbaabu remained tight-lipped about the specifics. Notably, Chpter operates as a distinct entity, separate from Marketforce.

    Chpter operates independently, despite MarketForce being a shareholder, Mbaabu clarified.

    Chpter’s acceptance into Norrsken Accelerator (2023) and Safaricom Spark Accelerator (May 2024) positions it as a conversational commerce frontrunner.

    The Norrsken Accelerator investment in Chpter remains undisclosed, while in May 2024, the Safaricom Spark Accelerator invested a significant amount, ranging from $150,000 to $500,000, in the startup, according to a person familiar with the matter.

    Notably, the telco did not participate in the pre-seed round, making this investment a standalone commitment to Chpter’s growth and development in conversational commerce.

  • SA fintech startup Omnisient secures $7.5M for global growth

    SA fintech startup Omnisient secures $7.5M for global growth

    South African startup Omnisient, a pioneering “privacy-by-design” company, has secured US$7.5 million in Series A funding. This significant investment will propel the company’s expansion across Africa, enabling Omnisient to tap into new markets and further develop its innovative privacy-focused solutions.

    With this fresh capital injection, Omnisient is poised to accelerate its growth trajectory, build on its existing momentum, and solidify its position as a leader in the privacy-by-design space.

    Read also: Workpay raises $5M to upgrade HR and payroll solutions in Africa

    The funding will be utilised to enhance its technology, expand its team, and explore strategic partnerships, ultimately driving Omnisient’s mission to prioritise user privacy and data protection on a global scale.

    As the company expands its footprint, it aims to empower individuals and organisations to take control of their data, fostering a safer and more secure digital ecosystem.

    Omnisient launches privacy-preserving data collaboration platform

    Omnisient, was launched in December 2019, offers a groundbreaking privacy-preserving data collaboration and insights platform. It empowers data owners and users to collaboratively extract valuable commercial insights while maintaining the highest standards of consumer privacy.

    The platform provides a secure and controlled environment for data analysis, ensuring the confidentiality and security of sensitive information.

    Omnisient’s platform safeguards the data of 160 million consumer profiles while empowering millions of underserved individuals to access financial services, such as loans and insurance, by leveraging their shopping behaviour to inform credit risk evaluations.

    This innovative approach enables individuals to build creditworthiness and access essential financial tools, promoting greater financial inclusion.

    Omnisient’s vision for global expansion

    This strategic funding will fuel Omnisient’s expansion plans, enabling the company to export its cutting-edge technology to key markets across Africa, the United Kingdom, the United States, and the Middle East. This will further the company’s mission to promote financial accessibility.

    Jon Jacobson, the co-founder of Omnisient, said the company’s ambition is to create the most significant alternative consumer data repository, driving financial inclusion globally.

    Read also: Seven South African Tech startups join forces for Irish Tech Challenge

    The investment from Arise will enable Omnisient to scale and collaborate with larger data providers, allowing banks and insurers to extend financial services to millions more people worldwide.

    This will drive significant progress in financial inclusion. The funding round is ongoing, and Omnisient is seeking strategic partnerships in the US market and retail media space.

    Gavin Tipper, CEO of Arise, noted that this investment aligns with their vision of harnessing innovative fintech to drive growth in Africa’s financial services sector.

    Omnisient’s technology will help banks and data providers identify new customers, unlock revenue streams, and promote financial inclusion.

  • Ghana’s PayBox launches Buddy app to revolutionise AI-powered payments in Africa

    Ghana’s PayBox launches Buddy app to revolutionise AI-powered payments in Africa

    PayBox, a Ghanaian fintech startup, has launched its mobile app, Buddy AI. The company’s new mobile application leverages blockchain technology and artificial intelligence (AI) to transform financial transfers and cross-border payments, particularly for small and medium-sized enterprises (SMEs).

    PayBox’s mobile app is more than just a financial tool; it’s an innovation hub that enhances investment returns, reduces transaction costs, and simplifies cross-border payments. Integrating blockchain technology ensures secure and transparent transactions, while AI helps combat inflation by providing users with intelligent financial advice.

    Read also: Nigeria fintech week 2024: Positioning finTechs for inclusive growth

    Buddy AI: A Financial Companion

    One of the standout features of PayBox’s offering is Buddy AI, also referred to simply as Buddy, which is currently in its beta phase. Buddy AI allows users to engage in meaningful conversations about their finances, offering tailored advice to help them make better financial decisions. PayBox envisions Buddy as the “PayPal or Monzo of Africa,” but with the added advantage of blockchain capabilities linked directly to a mobile number. This dual functionality, both a mobile app and a decentralised app, provides a user-friendly interface for managing personal and business finances.

    The app’s features are designed to give users real-time control over their finances. Customers can access transaction updates instantly, review their transaction history at a glance, and generate reports with just a few taps. This ease of access and control is particularly beneficial for SMEs looking to make informed decisions in managing their finances.

    Read also: Digital innovation helps Uganda’s tax department meet income goals

    Financial Growth in Africa with PayBox Solutions 

    Beyond individual financial management, PayBox’s app offers additional tools to help businesses grow. The Buddy Financial Coach provides valuable insights and advice, while business credit support aids in expanding small enterprises. This comprehensive suite of services makes PayBox a crucial partner for businesses across Africa.

    PayBox is leading the charge in Africa’s fintech space, transforming financial transfers and cross-border payments for small and medium-sized enterprises (SMEs) across 23 African countries. The company offers innovative solutions that are technologically advanced and tailored to the unique needs of African businesses and individuals. 

    With its cutting-edge technology and user-friendly design, PayBox is well-positioned to become a key player in the continent’s financial ecosystem.

  • Tekedia Capital invests in Edtech startup Quizac, revitalizing its gamified learning platform

    Tekedia Capital invests in Edtech startup Quizac, revitalizing its gamified learning platform

    In an unexpected move, Tekedia Capital has bought Quizac, an edtech startup scheduled to close this month. Either party did not disclose the acquisition cost.

    Tade Samson said quick purchase talks led to a transaction in just a week.

    Founded in 2019 by Tade Samson, Tobi Awogbemi, Hussein Alayo, and Babatunde Caleb, Quizac provides gamified learning content for African students via a network of contributors. In 2021, it expanded to corporate learning programs.

    After enrolling over 13,000 students, monetisation proved difficult, and it closed after realising corporate users were more profitable.

    Read also: Topset, Genti, others to exhibit at Ibadan’s biggest EdTech Festival

    Tekedia Capital Integrates Quizac for Enhanced Gamified Learning

    Startups, including OurPass, Mecho Autotech, and Verily, are part of sector-agnostic Tekedia Capital. Other training programs include the Tekedia Mini MBA. Acquiring Quizac lets it add gamified learning.

    Tekedia Capital staff stated that they will bake Quizac technology into the core engine of Tekedia, offering learners an immersive experience so that the pursuit of entrepreneurial capitalism and the mastering of fixing market frictions within the pillars of people, process, and tools powered by knowledge, capital, and risk-taking will be gamified.

    After the acquisition, Quizac’s founders will leave, but the crew will stay to help.

    According to a reporter, he said that Quizac sees this as a new beginning, even if all beautiful things must end. He added that he’s happy to say Tekedia Capital bought Quizac. In addition to fulfilling its objective, Quizac will expand into new markets and help transform learning outside Africa with this acquisition.

    Quizac will integrate smoothly into Tekedia Capital’s ecosystem and access its vast data assets and resources.

    Read also: Expanding Yoruba Culture and Language through Edutech: A Virtual Teacher’s Perspective – Tobiloba Adebisi

    About Tekedia Capital and Quizac

    Tekedia Capital offers a speciality investment vehicle (or investment syndicate) which makes it possible for citizens, groups and organisations to co-invest in innovative startups and young companies in Africa

    Capital from these investing entities is pooled together and then invested in a specific company or company.

    Our focus is on companies with primary operations in Africa, even though they may be legally domiciled within or outside Africa.

    Quizac is an edtech platform using multiplayer gaming around subject topics to create motivation and improve learning engagement to boost academic success.

    Quizac is a Nigerian web and mobile application that helps learners learn different subjects through games. Quizac learns from each game to determine when and which content needs more attention.

    As more games are played, Quizac helps curate topic mastery percentages to meet every learning goal. Quizac charges users to play its online quizzes, but players can recuperate fees by achieving top scores and gaining “gems,” which can be converted into cash rewards or airtime credit.

  • Workpay raises $5M to upgrade HR and payroll solutions in Africa

    Workpay raises $5M to upgrade HR and payroll solutions in Africa

    Workpay, a Kenyan HR and payroll startup, raised $5 million in a series A funding round led by Norrsken22, a pan-African venture capital company. Global payments giant Visa also participated in the round.

    The round included current investors Y Combinator, Saviu Ventures, Axian, Plug & Play, Verod-Kepple Africa Ventures, and Acadian Ventures.

    With this investment, Workpay plans to grow its operations and improve its platform, which manages payroll, HR, and employee benefits for African businesses.

    Read also: TSION unveils innovative strategies to boost business growth

    Expanding Horizons: How Workpay Plans to Innovate 

    Paul Kimani, CEO of the company, said the new funding will be used to expand its financial services offering (exploring new products to improve how employers and employees interact with salaries), improve its performance management tools with AI to help businesses manage their teams, and grow its workforce.

    According to him, Customers’ changing needs have led us to extend from payroll to full-stack HR. We may also add financial services to our HR services. Since we pay firms’ employees, we can now offer medical and auto insurance and partner with providers for loans, savings, and investing. We can address our customers’ and workers’ needs with a more complete solution.

    Notably, Kimani, who co-founded Workpay with Jackson Kungu (COO), sees a significant opportunity for market leadership in Africa, having built the tech and non-tech infrastructure to enable it to scale

    We have connected with almost every company that handles funds to send money to as many African countries as possible. Being non-tech means that we have a presence in these countries and work with partners who help us follow the rules, which is very important, he said.

    Read also: IHS Nigeria and UNICEF launch a digital impact initiative

    About Workpay

    Since its founding in 2019, Paul Kimani’s HR and payroll business, Workpay, has increased. Cloud-based payroll, HR administration, compliance, and employee benefits applications help businesses across Africa streamline their procedures. Workpay has helped over 700 firms and processed over $200 million in payroll since 2021, growing its income and customer base yearly.

    After raising $2.7 million in a pre-Series A round last year, the company said it would use the latest round of funding to start doing business in 40 countries. Investments from well-known backers, such as Y Combinator and several venture capital companies, have helped Workpay proliferate.

    The startup expansion strategy highlights the increasing demand for HR tech solutions across Africa, especially as remote work and cross-border employment become more common. With its ambitious plans and strong financial backing, Workpay is well-positioned to continue leading the HR tech space in Africa.