Dopay, the UK based payroll technology for the emerging markets has raised a $2.4m pre-series A round, led by Techstars Ventures and Force Over Mass Capital.
dopay’s cloud-based payroll technology helps to serve the needs of the two billion people worldwide which have jobs but no bank account. With the dopay platform employers are able to calculate salaries and pay all employees electronically. Unbanked employees receive their salary in a dopay account, which comes with a debit card. Employees can manage their ‘day-to-day’ finance with the dopay app. “When the opportunity presented itself to extend our runway, we happily took it”, says dopay founder & CEO Frans van Eersel. “The new investors in the round give us access to a wide network of contacts that will accelerate our growth. Moreover, the funding allows us to scale up our team both in development and sales.”