Technology is greatly increasing the ways of communicating between employers and staff, as well as the management of human resources in the workplace. Using a clear digital communication approach not only helps to send information to your staff quickly, but also makes communication swift and easy. That introduces us to today’s featured start-up, SmartWage.
Their brand tagline, “Making HR and communications easier for everyone,” sums it up well.
SmartWage is a South African based innovative HR and communication startup founded in May 2020 by Simon Ellis and Caroline van der Merwe. The company provides enterprises with a simple yet efficient solution to digitalize HR procedures, saving time and money by enabling employees without email to receive corporate information, access pay slips, seek leave, and gain access to financial wellness products through WhatsApp.
Employees can receive improvements by actively communicating with their WhatsApp chatbot. This helps them to receive advancements on their hard-earned income, relieving the company of administrative and cash-flow requirements.
SmartWage offers solutions to companies that would help preserve their cash flow and minimize administrative burden while also caring for their workers, by providing a financial lifeline that prevents employees from resorting to unsafe alternatives to deal with urgent needs or simply to make ends meet during a difficult moment. To help that, the company has created a slew of financial wellness solutions that give employees the financial support they need; like access to free financial education and on-demand pay amongst others.
SmartWage works with companies that hire frontline workers, including those in retail, fast food, manufacturing, construction, and hospitality. They have expanded their monthly active user base by 14 times in the last year with Edgars, KFC, Debonairs, Seattle Coffee, Truda, and Twizza in their portfolio.
Just recently, they raised USD$2 million (R29m) in an oversubscribed seed round led by Idris Bello, founding partner of LoftyInc Capital, a pan-African VC fund headquartered in Nigeria, and an early investor in Flutterwave and Andela, two of Africa’s tech unicorns with other investors including Creator Collective Capital, Penrose Capital, along with angels from Naspers, Dimension Data, Investec, and Standard Bank.
The company intends to use the funds to expand their product and technology teams, as well as work toward their objective of transforming Africa’s workforce through digital inclusion.