Nigerian HR-tech startup PaidHR has secured a $1.8 million seed round, completing a fundraising journey that began in late 2024. The startup initially set a target of $1.5 million, first reported by TechCabal.
The latest funding will help PaidHR grow its footprint in Nigeria, build out new product features, and expand its customer success team. Accion Venture Lab led the round, with support from existing backers Zrosk, Chui Ventures, and Zedcrest Capital.
This round brings PaidHR’s total funding to $2.9 million. The company previously raised $500,000 in 2022 and $600,000 in 2023.
Founded in 2020 by Seye Bandele and Lekan Omotosho, PaidHR offers businesses an all-in-one platform for payroll, compliance, HRIS, performance tracking, and Earned Wage Access (EWA). Its system supports 49 currencies, helping employers handle international payments with ease.
Today, PaidHR serves over 200 businesses. It earns revenue through subscriptions and transaction fees. In 2024 alone, it processed over ₦29 billion ($18 million) in employee salaries—almost twice the amount processed the year before.
The company recently launched a wallet app that allows employees to spend their wages directly, without moving funds to a traditional bank. PaidHR says the app now processes more than ₦1.3 billion ($835,134) each month.
Amee Parbhoo, managing partner at Accion Venture Lab, praised the company’s impact:
“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.”
As it grows, PaidHR hopes to continue solving payroll and HR headaches for businesses across Nigeria—and eventually, beyond.
