SeamlessHR has announced the close of a $9 million funding round led by the Gates Foundation and Helios Digital Ventures. The company says the investment will be used to drive its expansion across Africa, enhance workforce productivity and accelerate business performance through solutions including Embedded Finance offerings and AI-driven workforce management technology.
This announcement comes months after SeamlessHR announced the launch of new embedded finance products that enable employers and employees access critical financing solutions, including payroll financing, to fuel their growth and business performance.
Commenting on the announcement, SeamlessHR’s Co-founder and Chief Executive Officer, Dr. Emmanuel Okeleji, said, “I am really excited about our journey. Over the last 5 years, we have expanded across the continent to become the dominant HR and Payroll Software for medium to large enterprises in Africa. While we continue to accelerate our work to optimise workforce productivity in both the public and private sectors across the continent, much of our attention will also be on empowering hardworking Africans with responsible credit products that will help them use their employment as collateral to enjoy a better life.”
SeamlessHR’s eponymous software is being used by close to 2000 businesses to manage HR and Payroll processes for about 300,000 employees across 20 African countries.
“We are confident that our suite of embedded finance products will contribute to alleviating these problems at scale for our people so that working Africans like people in other parts of the world will be able to leverage responsible credit to gain better access to basic life needs like shelter, mobility, food, and education. And who better to walk this road with than the good folks at the Gates Foundation and Helios and our very supportive earlier investors, who share our passion for the continent,” concluded Dr. Okeleji.
Fope Adelowo, Managing Partner at Helios Digital Ventures, said, “We believe technology is the key to unlocking Africa’s immense potential as a global economic force. SeamlessHR is not only pioneering the digitisation of workforce management but also empowering businesses and employees with transformative solutions such as embedded finance. By providing salary assurance and enhanced wage access, they are breaking down barriers to financial inclusion across the continent. We are pleased to partner with SeamlessHR on this exciting journey and look forward to accelerating their impact across Africa in its next phase of growth.”
Uche Amaonwu, Nigeria Country Director of the Gates Foundation, added, “The Gates Foundation is excited about the potential for SeamlessHR to enable access to critical financial services for millions of hard-working, formally employed Africans. This is particularly relevant in Nigeria for workers to potentially mitigate the increasing cost of living.”
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