Earnipay, which provides on-demand salary services, has reportedly raised $4m in seed funding.
The investment was led by early-stage venture capital firm Canaan, according to a report from TechCrunch. Other commitments came from XYZ Ventures, Village Global, Musha Ventures, Voltron Capital, Ventures Platform and Paystack CEO Shola Akinlade.
With the funds, the company hopes to target large enterprises and expand across Africa.
Earnipay has been in beta since September 2021 and launched last month. By the end of the year, the company hopes to offer its on-demand salary solution to 200,000 employees by the end of the year.
It was founded by Nonso Onwuzulike to help employees get access to their earned wages quicker.
Copyright © 2022 FinTech Global