Nigeria’s PaidHR Gets $1.8M Seed to Scale Cross-Border Payroll Tech

BREAKING NEWSJune 23, 2025 at 10:11 AM UTC

TLDR

Nigerian HRTech startup PaidHR has raised a $1.8 million seed round led by Accion Venture Lab
PaidHR offers a comprehensive platform covering payroll, HRIS, compliance, performance tracking, and earned wage access
The funding will support product development, customer expansion, and regional growth across Africa’s enterprise and SME markets

Nigerian HRTech startup PaidHR has raised a $1.8 million seed round led by Accion Venture Lab, with backing from returning investors Zrosk, Chui Ventures, and Zedcrest Capital. The funding will support product development, customer expansion, and regional growth across Africa’s enterprise and SME markets.

Founded in 2020 by Seye Bandele and Lekan Omotosho, PaidHR offers a comprehensive platform covering payroll, HRIS, compliance, performance tracking, and earned wage access. Its cross-border payroll engine supports 49 currencies, enabling businesses to pay employees locally while navigating complex HR operations across jurisdictions.

The seed round follows an unannounced $600,000 raise in 2023, in addition to a $500,000 pre-seed in 2022. With over $2.9 million raised, PaidHR is doubling down on tools for financial wellness, compliance automation, and HR analytics.

“We are building HR management for the African context,” said CEO Seye Bandele. “This funding enables us to deliver more value to businesses and empower employees through inclusive financial services.”

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Key Takeaways

PaidHR is part of a new wave of HRTech startups combining payroll with embedded financial services to solve structural inefficiencies in African employment ecosystems. With SMEs creating the bulk of jobs across the continent, managing compliance, wages, and benefits at scale remains a critical challenge. PaidHR’s edge lies in its ability to unify disparate HR functions into one compliant, border-aware system, while offering employees tools like earned wage access and USD savings, often unavailable through traditional employers. This dual focus positions the startup at the intersection of enterprise SaaS and financial inclusion. For investors like Accion Venture Lab, the model represents a high-impact opportunity: by equipping small businesses with infrastructure once reserved for large firms, platforms like PaidHR can enhance worker resilience, unlock productivity, and enable cross-border scaling for African startups.

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