PaidHR Secures $1.8M to Enhance HR Tech in Africa
Deal News | Jun 23, 2025 | Frontier Investments Group
PaidHR, a Nigerian HR tech startup, has successfully raised $1.8 million in a seed round led by Accion Venture Lab, with participation from existing investors such as Zrosk, Chui Ventures, and Zedcrest Capital. Founded in 2020, the company is dedicated to revolutionizing payroll and human resource management throughout Africa, particularly targeting small and medium-sized enterprises (SMEs) with under 200 employees. The platform offers a comprehensive suite of services, including earned wage access, payroll automation, and integration with financial services, to improve efficiency and employee well-being. With its newly secured funding, PaidHR aims to accelerate product development, expand its reach across Africa, and enhance employee financial wellness and compliance solutions. This investment is also a part of Accion Venture Lab's strategy to support startups fostering financial inclusion in underserved markets.
Sectors
- Financial Technology
- Human Resources
- Venture Capital
Geography
- Nigeria – PaidHR was founded in Nigeria and is primarily focused on improving HR tech within the country.
- Pan-Africa – PaidHR serves customers across Nigeria, Kenya, and South Africa, indicating a focus on the broader African market.
Industry
- Financial Technology – The article discusses PaidHR's use of technology to provide financial services to employees, such as earned wage access and payroll integration.
- Human Resources – PaidHR is an HR tech company focusing on improving payroll and HR management for SMEs in Africa.
- Venture Capital – The article involves a seed funding round led by Accion Venture Lab, a venture capital firm investing in fintech startups.
Financials
- $1.8 million – The amount raised by PaidHR in its seed funding round.
- $18 million – The total amount processed by PaidHR in salaries in 2024.
- $500,000 – Amount raised by PaidHR in a pre-seed funding round in late 2022.
- $600,000 – Additional amount raised by PaidHR in 2023, not previously announced.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PaidHR | Target Company | Company | A Nigerian HR tech startup aiming to innovate HR management and payroll services across Africa. |
| Accion Venture Lab | Investor | Company | An early-stage investor in fintech startups, focusing on inclusive financial services in underserved markets. |
| Zrosk | Investor | Company | An existing investor in PaidHR's funding round. |
| Chui Ventures | Investor | Company | An existing investor in PaidHR's funding round. |
| Zedcrest Capital | Investor | Company | An existing investor in PaidHR's funding round. |
| Seye Bandele | CEO | Person | CEO of PaidHR, responsible for driving the company's strategic vision. |
| Lekan Omotosho | Co-founder and CTO | Person | Co-founder and Chief Technology Officer of PaidHR, overseeing the technology infrastructure. |
| Amee Parbhoo | Managing Partner | Person | Managing Partner at Accion Venture Lab, involved in the investment decision to support PaidHR. |