Payslip, a global digital payroll management solutions provider, announced a USD 10 million extension to its Series A funding round co-led by MiddleGame Ventures and Mouro Capital. The round also included participation from Frontline Ventures, Tribal.vc, and individual investors David Clarke (former CTO, Workday), Brian Williams (co-founder, One Source Virtual), and Phil Chambers (CEO and co-founder, Peakon). 

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.

The extension brings the total funding to USD 14.5 million. The fresh capital will be directed toward increasing 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.

Founded in 2015, Payslip provides businesses with the technology to manage their global payroll, automating and integrating the payroll process. The company 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. The company's client portfolio includes companies such as LogMeIn and Airbus.