WorkPay: a digital HR management solution for SMEs

Founded in 2018, WorkPay is a Kenyan company that provides software for MSMEs for the management of all HR functions (payroll, recruitment, management of days of absence). WorkPay also promotes the financial inclusion of employees by offering them payday loan products. WorkPay’s digital solution is relevant on a market where most of the employees of local MSMEs are still paid in cash, especially since the health crisis which has led to the development of teleworking. 

As at December 2022, WorkPay was managing employees in over 20 countries from its offices in Kenya and Nigeria. The company has over 600 MSMEs with an average of 50 to 250 employees and manages over 60,000 employees for an annualized amount of salaries under management of USD 100m.

Proparco is providing EUR 500,000 of financing to allow WorkPay to achieve a critical size for its next fundraising.  

Bridge by Digital Africa financing allows young start-ups to obtain financing through a fast-track process. It only has to be repaid after two years or at the next fundraising. 

The project contributes to improving the financial inclusion of workers in Africa, especially through the payday loan product offered by WorkPay. The company wants to extend its range of financial products to employees under management, in particular with insurance products, which would further increase the resilience of these people. 

More generally, WorkPay’s service makes the payment of salaries more reliable and workers can be paid through mobile money applications. This is generally the first step towards a more extensive use of the banking system by these people.