Lahore-based HR and payroll startup Paismo has raised $1.3 million in a seed spherical led by Indus Valley Capital. The ‘oversubscribed’ spherical was additionally joined by Antler and Jedar Capital and takes the startup’s complete funding to this point to $1.5 million.
Based in 2022 by Rebecka Zavaleta and Usama Mahmud, Paismo is constructing what it calls a contemporary HR & payroll software program that’s straightforward, inexpensive, and customizable. Its software-as-a-service (SaaS) platform permits organizations to handle their expertise and payroll with localized options designed from the bottom up for various sizes of companies in Pakistan.
The platform comes with a characteristic of timesheet administration, permitting organizations to handle timesheets and schedules for his or her staff and mechanically feeding them into the payroll. The characteristic will be built-in with the attendance or time system which successfully helps HR save tens of manhours which are usually spent on accumulating information from these machines and manually making the changes in payroll primarily based on it. Paismo’s cloud-based software program additionally presents insights and reviews to organizations to make HR choices simpler for them.
The founders are alumni of the College of Pennsylvania. Rebecka has a product background and has beforehand labored at corporations like Google, TikTok and Fb. Usama has expertise in driving large-scale public sector reform packages for the training sector in Pakistan.
After partaking with lots of of corporations on floor, the Paismo crew deeply understands the challenges corporations face in constructing companies, in addition to rising and retaining expertise. Hiring is tough, delivering payroll is painful, staff hardly have entry to advantages, and enterprise efficiency is suboptimal,” notes a press release by Paismo, including that it’s constructing its software program to unravel these challenges.
Rebecka Zavaleta, the co-founder and CEO of Paismo, talking concerning the platform mentioned that it’s simply not one other software program, “It’s a product-led firm, offering a customizable, user-centric answer, and actively integrating with strategic companions to foster entry to advantages. We’re obsessed with delivering a wholistic expertise to our purchasers.”
The startup is at the moment centered on Pakistan but additionally has plans to doubtlessly broaden into MENA and SEA areas.
Aatif Awan, founding father of Indus Valley Capital, mentioned, “I noticed firsthand at LinkedIn how software program can create financial alternative globally. With Paismo, we’re excited concerning the alternative to construct an unimaginable ‘Made in Pakistan, for the World’ SaaS product to unravel an enormous drawback for employers and staff throughout the rising markets.”
Paismo at the moment presents three plans; primary, premium, and enterprise. Sadly, it doesn’t have any pricing particulars on its web site.
It has just lately additionally signed partnerships with main Adamjee Insurance coverage, the most important normal insurance coverage firm of Pakistan, and MCB Islamic Financial institution, a high native financial institution, to allow its purchasers to offer insurance coverage and monetary advantages to their staff.
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