A software-as-a-service (SaaS) firm focused on developing the easiest and most effective platform for people operations, based in Nigeria, has raised a US $500,000 pre-seed fundraising round to support the growth of its business.
Seye Bandele and Lekan Omotosho founded Pade HCM in December 2020 to streamline and automate HR procedures. The start-up will process NGN2.67 billion (US $6.3 million) in payroll in 2022 and manage over 10,000 employee profiles. So far, it has assisted over 100 African firms in becoming more efficient and profitable.
The firm, which has been self-funded up until this point, just concluded a US $500,000 pre-seed fundraising round from a global network of investors, including Zrosk IML, Zedcrest Capital, Microtraction, Expert Dojo, and Resilience 17, as well as a number of angel investors. The firm will be able to grow its operations and make investments in product development thanks to the additional capital.
“Our goal is to help businesses become more efficient, freeing up their time to focus on strategic work,” said Pade CEO Seye Bandele. “Professionals should not spend valuable time handling HR tasks that can be automated with little human interaction. Our software helps organisations with onboarding, HRIS, payroll, compliance, performance management, asset management, disciplinary actions, and exit processes, providing reliable HR management solutions in all areas.”
