Companies · Fintech
Nairobi · Nairobi County, Kenya · Fintech · founded 2020 · https://myworkpay.com
Diligence memoA one-page analyst read on Workpay — recommendation, valuation, rhythm, risks.→Workpay looks fair against its niche peers and is dormant on financing cadence.
Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the fintech sector profile.
Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.
Workpay is one of 1063 Fintech companies tracked from Nairobi, Nairobi County, Kenya, on record since 2020. By capital raised it ranks in the upper tier (ahead of 78% of sector peers), and in the upper tier by modeled valuation est..
Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.
AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%
operates a technology-led product inferred from public copy
Grounded in: “You are a venture analyst”
Payroll, compliance, benefits, and Employer of Record services for…
Workpay helps companies hire, pay, manage, and stay compliant across Africa. We provide payroll software, payroll outsourcing, Employer of Record services, statutory compliance, benefits, HR tools, and salary disbursements for local and cross-border teams. Companies use Workpay as their workforce infrastructure partner across 50+ African countries.
As reported in public records reported — not modeled.
Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.
The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.
Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.
Round size and date are reported; the stage label is inferred from round size (latest is Seed — a $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the fintech sector profile. Directional, not a quoted figure.
Not enough modeled valuation points to chart a trajectory.
Benchmarked against 1063 companies in Fintech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.
Raised more than 78% of sector peers (real $). Modeled value above 86% of peers (estimate).
A tighter cohort than the sector chart above — only companies at the same stage (Seed) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #10 of 34.
| Company | Stage | Raised · real | Value · est | vs peer med. |
|---|---|---|---|---|
| Paymob | Seed | $3.5M | $116.7M | 2.39× |
| Alude Holdings Ltd. | Seed | $3.3M | $110.6M | 2.27× |
| Stitch | Seed | $4.0M | $102.5M | 2.10× |
| Chari | Seed | $5.0M | $95.2M | 1.95× |
| Diool | Seed | $3.5M | $89.7M | 1.84× |
| Planet42 | Seed | $2.4M | $84.5M | 1.73× |
| Fan Payment Solutions LP | Seed | $2.1M | $74.0M | 1.52× |
| Indicina, Inc. | Seed | $4.5M | $73.6M | 1.51× |
| Kwara | Seed | $4.0M | $70.0M | 1.44× |
| Workpay this company | Seed | $2.1M | $69.8M | 1.43× |
| Allied Payment Network Inc. | Seed | $9.1M | $65.9M | 1.35× |
| NowPay | Seed | $2.1M | $64.5M | 1.32× |
Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.
| Stage | Amount · real | Announced | Post-money · est | Value · est | Conf. |
|---|---|---|---|---|---|
| Seed | $2.1M | 2020-08-13 | $10.5M | $69.8M | 45% |
Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.
Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.
Workpay is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.
Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.
| Company | Sector | Stage | Raised · real | Value · est | Why similar |
|---|---|---|---|---|---|
| Fan Payment Solutions LP | Fintech | Seed | $2.1M | $74.0M | same sector · same stage |
| MEG Michigan Lending LLC | Fintech | Seed | $2.1M | $36.5M | same sector · same stage |
| NowPay | Fintech | Seed | $2.1M | $64.5M | same sector · same stage |
| Thepeer | Fintech | Seed | $2.1M | $11.9M | same sector · same stage |
| Bankly | Fintech | Seed | $2.0M | $49.4M | same sector · same stage |
| Bujeti | Fintech | Seed | $2.0M | $13.3M | same sector · same stage |
| Equity Lending Solutions LLC | Fintech | Seed | $2.0M | $11.9M | same sector · same stage |
| Klasha | Fintech | Seed | $2.0M | $8.7M | same sector · same stage |
Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.
| Company | Sector | Stage | Value · est | Match |
|---|---|---|---|---|
| Eazipay Inc. Eazipay powers effortless payroll and financial access in Africa. | Fintech | — | — | 83% |
| WorkPay Technologies, Inc. | Software / Tech | Series A | $49.5M | 81% |
| peopleCQ Employer backed payroll advances for employees in Egypt | Fintech | — | — | 80% |
| Every Banking + Payroll/Benefits + Bookkeeping + Tax in one place | Fintech | — | — | 79% |
| Plane #1 easiest-to-use payroll for startups | Fintech | — | — | 78% |
| Floatpays Inc SA fintech startup Floatpays raises $4m seed funding round for African expansion 0 By Tom Jackson on January 26, 2022 News , Southern Africa South African on-demand pay provider Floatpays has secured just under US$4 million in an oversubscribed seed funding round to help it expand across Africa. Founded in 2019 and a participant in the S21 cohort of the Silicon Valley-based Y Combinator accelerator , Floatpays is a technology platform that enables on-demand access to pay, seamless savings functionality and financial education to build employee financial wellness. | Fintech | Seed | $65.7M | 78% |
| Kombo Unified API for HR, payroll and recruiting software | HR / Worktech | — | — | 78% |
| Payable Simple payments and tax compliance for your contract workforce. | Fintech | — | — | 77% |
See where Workpay sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.
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