PaidHR, a Nigerian HR-tech startup, has raised $1.8 million in seed funding to scale its operations and expand across key African markets. The company, co-founded in 2020 by Seye Bandele and Lekan Omotosho, offers a robust platform that combines payroll automation, compliance, and embedded financial tools tailored for small and medium-sized enterprises (SMEs) in Africa.
The investment round was led by Accion Venture Lab, with additional backing from Zrosk, Chui Ventures, and Zedcrest Capital. This new capital brings PaidHR’s total funding to $2.9 million, including previous pre-seed and follow-on rounds raised between 2022 and 2023.
Unlike global HR systems that often overlook the complexities of emerging markets, PaidHR is purpose-built for Africa. Its platform enables real-time salary processing in 49 currencies, supports cross-border compliance, and gives businesses the flexibility to pay employees in both local currencies and U.S. dollars—a crucial advantage in regions facing currency instability.
In 2024 alone, the startup processed over ₦29 billion ($18 million) in payroll and now serves more than 200 companies across Nigeria, Kenya, and South Africa. Its clients are largely SMEs in logistics, retail, and manufacturing—sectors often hindered by outdated systems and fragmented regulatory requirements.
One of PaidHR’s standout features is its Earned Wage Access (EWA) tool, which allows employees to withdraw a portion of their earnings before payday. By offering an alternative to high-interest payday loans, the platform aims to improve worker liquidity and reduce reliance on informal lending.
PaidHR also recently launched a multi-currency wallet app, now processing over ₦1.3 billion monthly. The app gives employees control over how and when they access their wages and enables them to save in USD—a feature increasingly valuable amid economic volatility.
“Our focus has always been on building for the realities of African businesses,” said CEO Seye Bandele. “This funding allows us to deepen our impact, improve product experience, and expand into new markets where financial inclusion and digitised HR management are urgently needed.”
Investors view PaidHR’s mission as both commercially scalable and socially relevant. “PaidHR is delivering structural change where it’s most needed—among the underbanked workforce in underserved sectors,” said Amee Parbhoo, Managing Partner at Accion Venture Lab.
With Africa expected to contribute over half of global labor force growth by 2030, the need for scalable, inclusive workforce platforms is more urgent than ever. PaidHR is positioning itself at the intersection of that opportunity—where HR, fintech, and digital infrastructure meet to power the future of work on the continent.
