Irish Fintech Payslip Announces Closing of Additional $10 Million to Series A Financing Round; Brings Total Funds Raised to $14.5 Million

 

Payslip, an Ireland-based global payroll management software and fintech company, announced on Tuesday it closed an additional $10 million to its Series A financing round, which brought the total funds raised to $14.5 million. MiddleGame Ventures reported led the round and Mouro Capital serving as co-lead, with additional participation from Frontline Ventures, Tribal.vc, investors David Clarke, former CTO of Workday; Brian Williams– Co-Founder of One Source Virtual; and Phil Chambers, CEO, and Co-Founder of Peakon.

As previously reported, Payslip stated it delivers innovative global payroll management software to multi-national enterprise clients. The company also enables multi-national Global Payroll Teams to manage all data and workflows, internally across functions and externally with payroll providers, on a centralized cloud platform, delivering increased GDPR data protection, consolidated reporting, transparent process and people performance management. Fidelma McGuirk, CEO of Payslip, spoke about the company’s products by stating:

“Covid travel restrictions, in-country business continuity requirements, and increased WFH acceptability have turbocharged international hiring and country expansion. Payslip customers use our technology to grow quickly into new countries, deliver a unified employee self-serve experience globally and, most importantly, to have real-time insights via the reporting available on Payslip around payroll costs, operational delivery and vendor performance.”

Payslip further revealed that the extension round follows a record year of growth for the company since its last financing in March 2020, which saw a nearly 100% increase in employee headcount, 40% revenue growth, and 25% quarterly customer growth. The company then reported it plans to use the additional funding to expand its product roadmap to include enhanced payroll, benefits and employee payroll personalization, greater zero-touch automation and validation, and “last-mile” global payments & benefits integration.

The company added that the investment plans will ensure its platform and integration technology are fully optimized to lead the “next generation of innovation” in the global payroll space.

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