Diligence memo · auto-generated · as of July 1, 2026
Workpay
Workpay looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Workpay operates in Fintech, based in Nairobi, Nairobi County, Kenya. Payroll, compliance, benefits, and Employer of Record services for…
Sub-sector tags: B2B, Fintech, SaaS, hr/worktech.
Capital & rounds (filed)filed
Workpay has raised $2.1M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Seed (a $1.0M–$4.0M round).
Largest single filing: $2.1M on 2020-08-13.
Most recent recorded round closed around 2020-08-13.
Valuation (modeled)modeled
Provath models Workpay at approximately $70M (range $1.8M–$530M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.43× the median modeled value of Seed Fintech companies in 2019–2021 (34 peers) — value vs value, same stage and era. Within the normal band (143% of peer median) for its niche.
Financing rhythm & timingmixed
Last raise 5.9 yr ago; this sector typically re-raises about every 12 months.
Only one round on record and long silent — often defunct, acquired, or gone quiet.
Comparablesmixed
Capital scale ranks ahead of 78% of Fintech peers (1063 compared).
Modeled value ranks above 86% of those peers.
Closest niche peers: Paymob, Alude Holdings Ltd., Stitch, Chari, Diool.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.