We’re thrilled to announce Acadian Ventures portfolio company, Workpay, has raised a $5M Series A led by Norrsken22 with participation from Visa, Plug n Play, and existing investors including Y Combinator.
Workpay is our 29th investment and the 4th investment in our second fund. We wrote about our regional HR+payroll thesis last year, highlighting Workpay as a model for our global investment strategy. When we first invested in Workpay’s Seed round in 2022, founders Paul Kimani and Jack Kibigo had an ambitious plan to help African companies modernize human resources while providing increased financial independence to workers.
Today, Workpay provides HR, payroll, and benefits across Africa. The company also offers employer of record (EOR), earned way access, and partners with financial services providers to enable workers with increased financial flexibility. The company has over 1,000 customers across 20 African countries.
Congratulations to the entire Workpay team on this milestone. You can read more about Workpay in TechCrunch.
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