South African Payroll Software Startup HelloHR Raises Funding from Finclusion Group

South African Payroll Software Startup HelloHR Raises Funding from Finclusion Group

South African payroll software startup HelloHR has announced it secured an undisclosed amount of funding from the Mauritius-based Finclusion Group.

HelloHR was founded by Bernard Bravenboer to make handling payroll and HR administration easier for small businesses.

The startup leverages its cloud-based payroll solution to connect accountants, organisations, and employees in South Africa.

HelloHR is accessed through its web application that automates the payroll processes leaving tax adjustments.

HelloHR’s founder Bernard Bravenboer speaking on the funding said that the funding will help give employees benefits that are only seen in large corporate organisations.

“This partnership democratises access to financial wellness products and access to earned wages, and can give a much-needed boost to the employee experience. We know that small and medium businesses are the future of South Africa, and this is where we can play our part,” Bernard said.

Finclusion Group recently secured $20m in a funding round with leading fintech debt financing provider, Lendable, which it plans to use to widen its reach in East and South African markets. The HelloHR deal is part of that.

CEO of Finclusion which recently secured $20m in a funding round, Timothy Nuy said the investment marked the beginning of a symbiotic partnership.

“HelloHR will contribute to the Finclusion Group platform, strengthening all offerings through improved customer experience and increased customer retention rates. The relationship allows the group to provide employers in SmartAdvance access to payroll services,” he said.

HelloHR intends to use the funding to give customers access to Finclusion Group’s wage-streaming, financial wellness and insurance products.