TLcom Capital backs Nigeria’s SeamlessHR in $10m Series A round

Nigerian startup SeamlessHR, which provides payroll and HR software-as-a-service (SaaS) solutions for medium to large-sized companies in several African countries, has closed a new $10 million Series A round.

Africa-focused VC firm, TLcom Capital led the round while some of SeamlessHR’s existing investors participated once again, such as Lateral Capital and Enza Capital. Other investors in this round include Capria, Ingressive Capital, and a number of strategic private investors. The new funding brings total investments secured by the startup to $12.2 million, having previously raised $2.2 million seed in October 2020.

With the funding, SeamlessHR plans to further grow its team of 130 as it eyes a pan-African expansion with new South Africa and Kenya offices being mulled. The company also plans to add new product functionalities around artificial intelligence and HR data analytics, it said, in addition to a new embedded finance product currently being piloted.

Read the complete article on Tech Cabal >

Liked the update?