SeamlessHR, Africa’s leading Human Resource technology company,
announced today that it has raised $9 million in its latest funding round from
the Gates Foundation and Helios Digital Ventures as it continues to
revolutionize the future of workforce productivity in Africa with cutting-edge
technology.
The new investment will drive the HR-Tech company’s plan to expand
its reach across Africa, enhancing workforce productivity, and accelerating
business performance through innovative solutions including Embedded Finance
offerings, and AI-driven workforce management technology. The investment comes
on the back of an impressive run of five years withSeamlessHR’s eponymous
software being used by nearly 2000 businesses to manage HR and Payroll
processes for about 300,000 employees across 20 African countries.
Commenting on the announcement, SeamlessHR’s Co-founder and Chief
Executive Officer, Dr. Emmanuel Okeleji, shared his excitement about the round
of funding and the pivotal role SeamlessHR is playing in directly tackling
productivity amongst Africa’s workforce and improving the quality of life of
Africa’s hardworking people.
“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 optimize 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.
The impact of recent global disruptions like the pandemic and
various conflicts around the world and its resultant effect on economic indices
such as inflation, exchange rates, and food supply has unfortunately affected
the most vulnerable working Africans, leading to worsening poverty.
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.
Fope Adelowo, Managing Partner at Helios Digital Ventures,
commented: "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, 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 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.
