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    Home»News»Seed funding for PayrollPanda, Malaysia’s HR startup
    News

    Seed funding for PayrollPanda, Malaysia’s HR startup

    mmBy Prajjal Saha | HRKathaJune 29, 20181 Min Read4632 Views
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    The SaaS-based HR and payroll software startup will use $700K to expand to other territories.

    PayrollPanda, a SaaS-based HR and payroll software start-up company, has received $700,000 in seed funding from an undisclosed group of investors, including two family offices based in the UK and Saudi Arabia.

    It is a mobile app that allows small and medium enterprises (SMEs) and HR managers to operate government-approved payroll systems. In addition to payroll management, the system also comes with free leave management and an employee database.

    Toine Vaessen , co-founder and CEO, PayrollPanda, expressed confidence on achieving its target of 20,000 paying customers in Malaysia in five years. Vaessen shared that the funding will allow the
    Company to enhance the product further and focus on HR automation from onboarding to time and attendance, claims and more. The Company is also contemplating doubling its current workforce, half of which works remotely and outside Malaysia. According to the startup, its solutions are used by over 1,000 SMEs from all types of industries, including hospitality, government, startups, factories and more.

    PayrollPanda was founded in 2015, by Asim Qureshi, Fawad Akram andd Toine Vaessen.

    funding HR Startup Malaysia Payroll Panda
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    Prajjal Saha | HRKatha

    Dr. Prajjal Saha, editor and publisher of HRKatha since 2015, leverages over 25 years of experience in business journalism, writing, and editing. He founded HRKatha to provide insightful analysis on the evolving workplace. With expertise spanning HR, marketing, distribution, and technology, Saha has a deep understanding of business dynamics. His authorship of the acclaimed Marketing White Book highlights his versatility beyond HR. A trusted voice across industries, his clear and thoughtful commentary has earned him a reputation for thought leadership, making him a reliable source of knowledge and insights for professionals navigating the complexities of the business world.

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