Workpay
“Can an Africa-focused HR and payroll platform become the financial operating system for employers and their workers across 40+ African markets by embedding payments, lending, and benefits into compliance-grade payroll infrastructure?”
Founded2017
HQNairobi, Kenya
Total raised$10.2M
Latest roundSeries A, 2024
IndustryHorizontal SaaS / HR & Payroll
The story
Founded in 2017 as TozzaPlus, the company rebranded to Workpay and pivoted to become an Africa-focused HR and payroll platform. It has expanded from basic payroll software to a comprehensive employer-of-record (EOR) and embedded financial services platform covering over 40 African countries. The Visa investment in 2024 signals a deliberate push into embedded payments and financial services layered on top of the HR/payroll core.
Product timeline
2017
Founded as TozzaPlus, a cloud-based employee management and payment software for African businesses.· pivot
2019
Rebranded to Workpay, focusing on HR, payroll, and benefits solutions for African employers.· pivot
2023
Raised $2.7M pre-Series A and announced plans to expand payroll services to 40 African countries.· banking
2024
Raised $5M Series A with Visa as a strategic investor, signaling embedded payments expansion.· banking
The stack
2 layers disclosed in Workpay’s embedded-finance stack
Money movement
Lending
in the full report
Accounting gap: significant
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.