SeamlessHR, a world-class HR technology that simplifies processes and streamlines tasks for African businesses, has secured an additional $9 million in funding.
The funding round saw participation from the Gates Foundation and Helios Digital Ventures, bringing the company’s total capital raised to approximately $25 million since its inception in 2018.
Announcing the funding round via a blogpost, the founders noted that the company is poised to play a bigger role in directly tackling productivity amongst Africa’s workforce and improve the quality of life of Africa’s hardworking people. Hence, it further noted that the funding will enable the expansion to all English-speaking countries in Africa.
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Part of the post reads,
“As we continue to enter new markets, strengthening our infrastructure is critical. SeamlessHR has always been about providing scalable, adaptable HR solutions that meet diverse industries’ needs across many regions. This investment will fuel the necessary infrastructure developments that will allow us to maintain our high standards of service while expanding our footprint. We are investing in the technology and human capital required to ensure that institutions experience seamless operations driven by our solutions.
“This series A extension gives us the resources to push the boundaries of what is possible. One key area of focus is leveraging Generative Al into our products to allow users to take a seat at the Al table. We will also scale our Design Partnership Program, which enables us to Collaborate and Co-create with our customers, allowing us to build customisable and tailored solutions for their needs.”
Over the last 5 years, SeamlessHR has expanded across the continent to become the dominant HR and Payroll Software for medium to large enterprises in Africa. The company’s software is currently being used by nearly 2000 businesses to manage HR and Payroll processes for about 300,000 employees across 20 African countries. With its innovative suit of products, the company was recognized by the Financial Times as one of Africa’s Fastest growing companies.
As global disruptions and conflicts impact African economies, Rising inflation, fluctuating exchange rates, and food shortages have disproportionately affected vulnerable working populations, exacerbating poverty. Seamless HR believes that its suite of embedded finance products can play a crucial role in alleviating these challenges.
By leveraging employment as collateral, the company aims to provide accessible and responsible credit to African workers. This will enable them to gain better access to essential needs such as housing, transportation, education, and food security.
In 2024, the payroll technology company, SeamlessHR announced the launch of its latest suite of business and employee enablement solutions- Payroll Financing & Employee Benefits in conjunction with partners. The newly introduced offerings aim to provide both employers and employees with critical financial tools to fuel their growth.
With SeamlessHR Payroll Financing, businesses have the necessary liquidity to meet payroll obligations without disrupting day-to-day operations. Flexible loan terms, quick and simple application processes, and seamless integration with existing payroll systems to ensure employees are always paid on time, maintaining the momentum for business operations.
Seamless HR’s innovative approach to embedded finance has garnered significant attention within the African tech ecosystem. This latest funding round underscores the company’s strong growth trajectory and its potential to revolutionize access to credit for millions of African workers.