Empowering Businesses: Paismo Raises $1.3M for its HR & Payroll Innovation

For the past two years, we have seen a significant decline in capital funding for Pakistani startups. However, an HR and payroll startup, Paismo, secured $1.3 million in a seed funding round. Indus Valley Capital led the oversubscribed round, with participation from Antler and Jedar Capital. This funding brings Paismo’s total funding to $1.5 million.

Paismo, established in 2022 by Rebecka Zavaleta and Usama Mahmud, is in the process of devising a contemporary HR and payroll software solution. This software, self-described as user-friendly, cost-effective, and adaptable, operates as a software-as-a-service (SaaS) platform. Its primary purpose is to facilitate organizations in efficiently handling their talent and payroll functions. It comes equipped with tailored features specifically designed to cater to businesses of varying sizes in Pakistan.

Paismo’s platform incorporates a timesheet management feature, enabling organizations to efficiently oversee employee timesheets and schedules. These details are seamlessly integrated into the payroll system. This feature can be linked to attendance or time-tracking devices, significantly streamlining HR processes by eliminating the need for manual data collection and adjustment in payroll calculations. Additionally, Paismo’s cloud-based software provides organizations with valuable insights and reports, simplifying HR decision-making processes.

The founders, Rebecka and Usama, both have ties to the University of Pennsylvania. Rebecka brings a product-focused background with prior roles at prominent companies such as Google, TikTok, and Facebook. Meanwhile, Usama’s expertise lies in spearheading extensive public sector reform initiatives, particularly within Pakistan’s education sector.

In a statement, Pasimo said,

After engaging with hundreds of companies on ground, the Paismo team deeply understands the challenges companies face in building businesses, as well as growing and retaining talent. Hiring is difficult, delivering payroll is painful, employees hardly have access to benefits, and business performance is suboptimal. Furthermore, it added that it is building its software to solve these challenges.

Talking about the platform, Rebecka Zavaleta, the co-founder and CEO of Paismo said that it’s just not another software, “It is a product-led company, providing a customizable, user-centric solution, and actively integrating with strategic partners to foster access to benefits. We’re passionate about delivering a holistic experience to our clients.”

On the other hand, the founder of Indus Valley Capital, Aatif Awan said, “I saw firsthand at LinkedIn how software can create economic opportunity globally. With Paismo, we are excited about the opportunity to build an incredible ‘Made in Pakistan, for the World’ SaaS product to solve a huge problem for employers and employees across emerging markets.”

Paismo currently offers three plans; basic, premium, and enterprise. Though, it doesn’t have any pricing details on its website. The startup is currently focusing on Pakistan but it also has ambitions to potentially expand into MENA and SEA regions.

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