Kenya's FaidiHR Receives Undisclosed Amount Of Funding

One of Kenya’s fintech startups, FaidiHR, has received investments in form of funding from SprintX, a Venture capitalist established in the US.

Faidi is a startup that deals with payroll services, the startup has recently changed its name from Crew HR & Payroll to FaidiHR as a result of this funding.

This startup has made African businesses its focal point, thereby giving them a platform where they can easily and automatically set their HR functions.

The amount received by FaidiHR from the fund drive is yet to be revealed, but it has been gathered that the risen fund is expected to help the startup expand its services to other African nations, including Uganda, Tanzania, and DRC- Congo. This way more users will benefit from FaidiHR’s cloud-based product.

FaidiHR was founded in the year 2018, to assist organizations to compile and setting off days. training, tasks, database, inventory and appraisal expenses amongst many other things.

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In Peter Muchemi, CEO, of FaidiHR, opinion, the startup is out to assist businesses in Africa to be people focused, on employee onboarding experience, employee retention, activities and welfare.

Muchemi stated “As FaidiHR, we are excited about this round of investment. We intend to use these funds to grow the business even as we continue to focus on our main clientele – small and medium enterprises (SMEs). So far we have had the chance to validate our business with millions in annual turnover with thousands of employees’ salaries being processed by our platform. Our platform has served different clients in diverse industries like aviation (Air France and KLM), Hospitality and Tours (Densey Tours and Trianum Group), and NGOs like Fida Kenya among other industries.”

Addressing its decision to rebrand by changing its name, Muchemi stated that the decision came out of the need to let the brand have its own voice, without being annualized by individuals.

It has also been revealed that Faidi will soon be launching more features on its services that will enable employees to become more value-adding and more productive.

Muchemi reiterated, “In the spirit of rebranding, we will continue to commit to our customers and provide the same, or better, level of professionalism you have experienced, and we’d like to take the opportunity to thank our loyal customers and business partners for your trust and friendship in business.”