Payslip

The Payslip platform provides businesses with the technology to manage its global payroll. The platform automates and integrates the payroll process; for instance, Payslip acts as the middleman between existing human capital management (HCM) providers (e.g., Workday, SAP, Oracle) and local payroll providers. The platform automates data flows and processes between the HCM and payroll software and delivers post payroll reports. Payslip’s offering also includes an Extended Workforce module featuring a range of features including payroll processing, invoice management, and reporting to help businesses manage their extended workforce consisting of contractors, employer of record (EoR) employees, and offshore workers.

Key customers and partnerships

The company targets multinational companies with employees spread across multiple countries, with notable brands such as Airbus, Booking.com and Databricks utilizing its platform.

The company’s integration with Workday allows for the importation of all pre-payroll data from its platform. Further, Payslip’s partnership with Deloitte (February 2024) offers the latter’s payroll clients with automated controls, centralized reporting and analytics, among other features.

Funding and financials

In May 2021 Payslip announced a USD 10 million extension to its Series A funding round co-led by MiddleGame Ventures and Mouro Capital. Funds were earmarked to increase employee headcount in its engineering, product development, sales, tech support, and finance teams, adding up to 150 new positions. Furthermore, Payslip also plans to expand its product offering to provide an integrated service.This includes the addition of payroll and benefits personalization, benefits integration, and last-mile global payments.

The extension comes just over a year after its initial Series A funding round, held in March 2020. Since then, the company claims it has seen its employee headcount double, coupled with revenue growth of 40% and 25% quarterly customer growth.