Breega leads investment in Senegalese HR platform
Socium is an all-in-one HR platform designed specifically for the unique needs of African companies.
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After backing Senegalese-based HR platform, Socium, in 2021, venture capital firm Breega has announced that it is leading Socium’s $5 million fundraise.
"Over 90% of mid-sized companies in Francophone Africa lack efficient HR solutions, relying on time-consuming manual processes that expose them to financial, legal, and operational risks. Samba Lo and Serigne Seye are tackling this head-on with Socium: an all-in-one HR platform designed specifically for the unique needs of African companies: recruitment, talent administration, performance management, and payroll processing," Breega said in a statement.
With this funding, Socium will strengthen its presence in Senegal, Côte d'Ivoire, and Cameroon, while expanding into new markets like the Democratic Republic of Congo and Morocco. The funds will also accelerate the development of AI-driven innovations to simplify payroll and compliance.
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