Nigeria-based human resources technology firm, PaidHR, has secured $1.8 million in a seed funding round led by Accion Venture Lab. Existing investors—Zrosk, Chui Ventures, and Zedcrest Capital—also participated in the round.

The funding brings the total amount raised by the company to $2.9 million, following earlier rounds of $500,000 in 2022 and $600,000 in 2023. Founded in 2020 by Seye Bandele and Lekan Omotosho, PaidHR aims to simplify payroll and HR processes for businesses operating across multiple countries.

With the new capital, the company plans to strengthen its product offerings, expand across African markets, and increase staffing, particularly in customer support.

“We are building HR management for the African context, and this funding allows us to scale our vision, expand our reach, and deliver even more value to our clients,” said CEO and co-founder Seye Bandele.

PaidHR provides a platform that helps businesses manage payroll, HR data, compliance, performance, and employee benefits. A core feature of its platform is a cross-border payroll system that supports 49 currencies, enabling companies to pay employees in local currencies regardless of their location.

According to Bandele, this feature has gained importance as companies seek stable currency options for employee compensation in light of the naira’s depreciation.

Commenting on the investment, Amee Parbhoo, managing partner at Accion Venture Lab, said, “It’s a meaningful step toward financial inclusion for underserved workers. PaidHR’s technology simplifies HR operations while giving workers access to financial tools like earned wage access and USD savings.”

Since its launch, PaidHR has supported over 200 companies—half of them African businesses—and processed over ₦11.4 billion in salaries in 2023. The company expects to double that figure in 2024.