SeamlessHR, a Nigerian startup helping businesses manage HR functions, has raised a $9 million Series-A extension round.
The new funding from the Gates Foundation and Helios Digital Ventures brings the startup’s total funding to $25 million.
The company plans to use the investment to expand across Africa, which may include acquisitions. Last year, the company reportedly held talks to acquire another HR tech startup in Nigeria.
A Step Closer To Redefining Africa’s Productivity
Although the company set out to raise $10 million, it eventually raised $9 million. This new funding comes months after SeamlessHR launched new embedded finance products that enable employers and employees to access critical financing solutions, including payroll financing, to fuel their growth and business performance.
SeamlessHR raised a $10 million Series A round in 2022 from TLCom, Capria, Lateral Frontiers, Ingressive Capital, and Enza Capital. It secured an undisclosed seed round from the same investors and Consonance Investment Managers in 2020. The Nigerian-based company raised a $150,000 pre-seed round from Tofino Capital and Ventures platform in 2019.
“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,” wrote Emmanuel Okeleji, SeamlessHR’s Co-founder and CEO, in a statement announcing the fundraising.
Technology to Unlock Africa’s Potential
Uche Amaonwu, Country Director of the Gates Foundation, commented: “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.”
Fope Adelowo, Managing Partner at Helios Digital Ventures, also added: “We believe technology is the key to unlocking Africa’s immense potential as a global economic force. SeamlessHR is 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. 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.”
More About Seamless HR
Founded in 2018 by Emmanuel Okeleji and ‘Deji Lana, SeamlessHR provides a cloud-based HR software solution that simplifies human resources management. Their comprehensive suite of tools covers core HR functions, performance management, payroll, and recruitment.
In 2024, the startup added an e-procurement platform to its product offerings. Seamless HR has quickly become one of the leading HR tech providers in Africa, with customers in Nigeria, Ghana, and Tunisia, including renowned brands like PwC, Sterling Bank, and Lagos Business School.
Main Image: From L-R, Deji Lana and Emmanuel Okeleji, Co-founders of SeamlessHR. Image Credit: SeamlessHR
