Swingvy said to receive a bridge financing round from Aviva

HR and payroll company Swingvy has reportedly received a bridge financing round from Aviva Ventures.

The company will use the capital to develop new solutions for Aviva’s customers in Singapore, according to a report by e27.

Singapore-based Swingvy supports businesses with their HR, payroll and benefits processes in a single location. The company’s services are also available via a mobile app that connects all employees and help them keep track with all work-related events and holidays.

Clients can implement Swingvy’s payroll solution to fully automate the process, giving up-to-date information on earnings, deductions and taxes. Offerings from the service include onboarding new employees, law compliance, employee paycheck viewing, payroll reports, and bank integration, among others.

Last month, Aviva made a lead investment into the autonomous vehicle technology developer Savari, to help develop insurance products for the space.

Fellow payroll company Ceridian launched its IPO on the New York Stock Exchange at a share price of $22 apiece. The company provides human capital management services to cover an employee’s entire lifecycle from onboarding through to payroll.

The HR/Payroll sub-sector of the infrastructure and enterprise software space was dominated by the North American market last year, according to data by FinTech Global. The region represented 54 per cent of the $462m that was deployed over 2017.

Copyright © 2018 FinTech Global

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