SeamlessHR 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. A statement issued in Accra said these include embedded Finance offerings, and AI-driven workforce management technology. It said the investment comes on the back of an impressive run of five years with SeamlessHR’s eponymous software being used by nearly 2000 businesses to manage HR and Payroll processes for about 300,000 employees across 20 African countries.
Dr. Emmanuel Okeleji, SeamlessHR’s Co-founder and Chief Executive Officer, said, “I am really excited about our journey. Over the last five years, we have expanded across the continent to become the dominant HR and Payroll Software for medium to large enterprises in Africa.” He said while they continued to accelerate its work to optimize workforce productivity in both the public and private sectors across the continent, much of its attention would be on empowering hardworking Africans with responsible credit products that will help them use their employment as collateral to enjoy a better life.
He said 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 had 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,” he said.
Madam 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.” She said SeamlessHR was not only pioneering the digitization 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,” she added. She said they were pleased to partner with SeamlessHR on this exciting journey and look forward to accelerating their impact across Africa in its next phase of growth. Mr. 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.”
He said the announcement had come 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.
Source: GNA
