The HR payroll market across the world is expected to record a compound annual growth rate (CAGR) of 9.2% reaching a $14.31 billion valuation by the close of this decade, buoyed by the increased demand for payroll and other HR solutions.
In emerging markets, the growing awareness of HR payroll tech solutions, and a spiking number of small and medium-sized businesses is expected to drive the uptake of these solutions, as more companies go online to streamline their operations. It is this market opportunity that HR payroll startups like Workpay are looking to tap.
The Kenyan HR payroll startup will soon roll out its services in 40 countries in Africa, nearly double its current reach, following $2.7 million pre-Series A funding raised from Launch Africa, Saviu Ventures, Acadian Ventures, Proparco, Fondation Botnar, Kara Ventures, and Axian, P1 Ventures, and Norrsken. The YC-backed startup (W20) previously raised $2.1 million see...
