SmartWage has raised $2,000,000 in funding. SmartWage is a cutting-edge company that specializes in HR and communications technologies.
The seed fund was raised by several prominent investors. LoftyInc Capital’s founder, Idris Belo is one of these investors.
Other investors include Naspers Dimension Data and Investec as well as angel investors such as Creator Collective Capital, Penrose Capital and Naspers Dimension Data and Investec.
SmartWage was established by Simon Ellis, Caroline van der Merwe and launched in May 2020. Van der Merwe is an expert in this field, with almost a decade of experience managing benefits programs for employers, such as SAGE or SimplePay, Workday or Oracle.
Communication and providing HR services to frontline workers is a challenge.
Simon Ellis, CEO at SmartWage, says that there is no effective solution to the problem of interfacing with scattered workers, which prevents businesses from digitally changing. “A communication chasm exists. Employees on the front lines do not believe they are a part of the company’s brand or promise. Payslips, leave, and notice boards are still printed on paper. Staff communication is done via apps or notice boards, which both have high drop-offs. Paper-based onboarding and disciplinary procedures still exist, costing firms time, money, and resources.”
Companies that use frontline employees, such as retail, quick-service restaurants (QSR), manufacturing, construction, and hospitality, are among SmartWage’s clients. In the last year, they’ve increased their monthly active user base by 140%, and they currently work with brands including Edgars, KFC, Debonairs, Seattle Coffee, Truda, and Twizza.
SmartWage’s ambition of revolutionizing Africa’s workforce through digital inclusion, particularly for frontline employees such as cashiers, restaurant staff, security officers, and healthcare workers, was supported by the oversubscribed seed fundraising round.
SmartWage intends to use the funds to expand its product and technology team, as well as double down on solving employers’ most pressing issues.