Accion leads investment in Nigeria's PaidHR
Nigeria-based startup PaidHR has announced the close of a $1.8 million seed round.
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Nigeria-based startup PaidHR has announced the close of a $1.8 million seed round. The investment was led by Accion Venture Lab, with participation from existing investors Zrosk, Chui Ventures, and Zedcrest Capital.
Founded in 2020, PaidHR has expanded to reach SMEs and tech startups across Nigeria, Kenya and South Africa.
PaidHR’s platform formalises HR administration, automating both local and cross-border payroll, ensuring full regulatory compliance, and providing tailored financial services to employees.
Employees on PaidHR’s platform can access a portion of their salary before payday. The company’s integrated multi-currency wallet allows employees to receive payments and save in both local currency and USD. The platform also leverages payroll data to connect employees to other financial products, such as credit and savings plans, through partnerships with financial service providers.
“We are building HR management for the African context, and this funding allows us to scale our vision, expand our reach, and deliver even more value to our clients,” said Seye Bandele, CEO of PaidHR. “With the support of Accion Venture Lab and our returning investors, we are well positioned to help small businesses grow and scale more effectively across borders.”
Amee Parbhoo, managing partner at Accion Venture Lab, commented: “PaidHR’s integrated platform is tackling deep-rooted structural challenges faced by small businesses and their employees in underserved markets, starting in Nigeria. By combining human resources automation with embedded financial services like earned wage access and USD savings, the platform not only improves how businesses operate, but seeks to deliver meaningful financial inclusion for workers. We are proud to support the team as they deliver scalable, cost-effective solutions that help strengthen small businesses and enable employees to take control of their financial lives.”
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