Browsing: PaySpace

African startups
  • 121 African startups secured $466M, marking a 27 per cent drop from the previous quarter; women-led startups got 6.5 per cent of the capital.
  • About 87 per cent of startup funding in the three months to March went to entities in Nigeria, Kenya, Egypt, and South Africa.
  • Gender imbalance persists as only 6.5 per cent of the financing went to female-led startups in Africa.

The big four economies of Nigeria, South Africa, Kenya, and Egypt continue to attract the highest share of funding going to startups in Africa, even as the ecosystem suffered a 27 per cent drop in financing to $466 million in the three months to March 2024.

The latest analysis from Africa: The Big Deal shows that 87 per cent of startup funding in the three months to March went to upcoming entities in Nigeria, Kenya, Egypt and South Africa.

Attracting $160 million, Nigeria’s economy accounted for …

Deel Payspace
  • Acquisition at undisclosed value deepens the US firm’s HR infrastructure, and fuels direct and indirect global expansion and reach.
  • PaySpace offers payroll engines and HR services across 44 countries in Europe, Latin America, the Middle East, and Africa markets.
  • PaySpace is serving more than 14,000 customers, including multinationals Heineken, Coca-Cola Beverages, and Puma Sports SA.

American Global HR payroll engine provider Deel is acquiring African-based payroll and HR services firm, PaySpace, a move that will see the former solidify its position as one of the biggest entities in the human resource management segment internationally.

This acquisition, which has been done for an undisclosed amount, marks one of the company’s largest acquisitions to date, the company said even as it edges closer to having a presence in over 100 countries.

CTECH estimates the transaction to be valued at approximately $100 million. This news comes on the heels of the firm’s …