PaidHR Secures $1.8M to Expand Payroll and HR Solutions Across Africa

Lagos-based HR-tech startup PaidHR has raised $1.8 million in seed funding to build a comprehensive salary, benefits, and payments ecosystem for African businesses. The round was led by Accion Venture Lab, with participation from Zrosk, Chui Ventures, and Zedcrest Capital.

Founded in 2020 by CEO Seye Bandele and CTO Lekan Omotosho, PaidHR began with the goal of helping Nigerian businesses pay their employees reliably. Four years later, the platform has evolved into a multi-currency payroll and employee wallet system supporting 49 currencies.

PaidHR’s platform automates local and cross-border payroll, tax, and pension calculations, government filings, and benefits management. It also offers Earned Wage Access (EWA), allowing employees to receive part of their wages before payday.

“We’ve always been driven by a simple yet powerful idea: that managing your team and payroll shouldn’t be a source of stress, but a catalyst for growth and well-being,” the company stated.

PaidHR now serves over 250 businesses across Nigeria, Kenya, and South Africa in sectors such as logistics, retail, manufacturing, and banking. In 2024 alone, the company processed over NGN 29 billion in salaries, more than doubling the previous year’s total.

A key feature of PaidHR’s growth is its employee wallet, which processes over NGN 1.3 billion (approximately USD 835,000) per month from staff spending within the app. Employees can access earned wages early, pay for data, airtime, and transport, and convert salaries into other currencies to hedge against naira devaluation.

“For us, it’s about making spending where you earn seamless,” said Bandele.

PaidHR also facilitates cross-border payroll, helping firms pay global staff in dollars and euros, and has partnered with licensed fintechs like Risevest to offer savings and FX investment options through its wallet.

“African SMEs are the backbone of the continent’s workforce and a critical engine for inclusive economic growth. Yet many still lack the tools to manage HR, payroll, and employee financial well-being effectively. That’s where PaidHR comes in,” said Amee Parbhoo, managing partner at Accion Venture Lab.

“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,” Bandele added.

PaidHR plans to use the new funding to grow its team, enhance its product offerings, and deepen its market presence across Africa.