PaidHR, have recently closed a $1.8 million seed funding round. The new capital will allow PaidHR to grow its platform and increase its competitive position in the global market. PaidHR enables businesses to pay their employees in local currencies. It also enables them to overcome the realities of the international HR management challenge.

PaidHR, which started in 2020 and is co-founded by Seye Bandele and Lekan Omotosho. They developed a comprehensive platform that includes payroll, HRIS, compliance, performance management, and Earned Wage Access (EWA). PaidHR's cross-border payroll system supports 49 currencies. The company serves over 200 businesses.

The company’s mobile wallet app is now processing more than ₦1.3 billion ($835,134) in monthly transactions. In 2024 alone, PaidHR processed ₦29 billion ($18 million) in salaries, almost doubling the volume it processed in 2023. PaidHR’s revenues come from subscription and transaction-based fees related to payroll processing.

Prior to this current seed round, PaidHR raised $500,000 in a pre-seed round in 2022. Then, in 2023, they went out and raised $600,000 more. Their most recent funding round was led by Accion Venture Lab.

We are proud to support the team as they deliver scalable, cost-effective solutions that help strengthen small businesses and enable employees to take control of their financial lives." - Amee Parbhoo, managing partner at Accion Venture Lab.