← Embedded Finance Index 2026

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.

Last 12 months

2024-08

Raised $5M round with Visa as a strategic investor to expand embedded financial services across Africa.

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

RTP

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.

Workpay — frequently asked

Which payment rails does Workpay use?

Workpay moves money over RTP.

What is Workpay's embedded finance stack?

The Embedded Finance Index 2026 maps 2 layers in Workpay's stack: Money movement (RTP); Lending (Financial services / tailor-made financial solutions).

Where is Workpay headquartered?

Workpay is founded in 2017 and headquartered in Nairobi, Kenya.

How much funding has Workpay raised?

Workpay has raised $10.2M in total (latest round: Series A, 2024).

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