HBAN’s Bloom & WxNW Syndicates invest in Westport FinTech Disrupter Payslip
Global Payroll Software company, Payslip, today announced a €1 million investment, led by Frontline Ventures and AIB, and leading Technology Investors, Tribal, HBAN Bloom Equity, WxNW Syndicates & Enterprise Ireland.
Payslip delivers innovative global payroll management software to multi-national enterprise clients. Payslip enables multi-national Global Payroll Teams to manage all data and workflows, internally across functions and externally with payroll providers, on a centralised cloud platform, delivering increased GDPR data protection, consolidated reporting, transparent process and people performance management.
In preparation for the General Data Protection Regulation (GDPR), which comes into force on May 25th, 2018, Payslip has integrated Data Protection by Design in their overall software strategy, enabling employers enhance their GDPR global payroll compliance materially and reduce corporate risk.
Speaking on the investment, Payslip CEO and Founder, Fidelma McGuirk said, “We are honoured to have the backing of top investors within the SaaS and digital innovation communities including Frontline Ventures backed by the AIB Discovery Fund, Enterprise Ireland, HBAN Bloom Equity and WxNW syndicates and Tribal."
Fidelma continues, "The investment in Payslip gives us additional resources to strategically expand the company through client acquisition, and to fuel team growth with 14 new hires forecast in 2018 at our headquarters in Westport, County Mayo.
We have already initiated our search to fill positions including Chief Technology Officer, International Payroll, Operations and Sales Roles. Other planned recruitment is for software engineers and software integration specialists. We have exciting product development to deliver for our enterprise clients including integrations into Accounting & HR softwares such as SAP, Workday and Netsuite HR. Our Westport team will lead this innovation and implementation”.
Payslip, will utilise the funds to continue company expansion through multi-national client acquisition, software integrations and to fuel team growth at their global headquarters in Westport, Co. Mayo.
AIB’s Head of Equity Investment Unit Ray Fitzpatrick said, “We are delighted to back Payslip, and Fidelma through the AIB Discovery Programme. Payslip offers a unique global payroll management offering and the investment in Payslip will support its expansion and growth. Payslip is a strong example of a female-
founded digital innovation in the West of Ireland, which aligns with AIB’s objectives for supporting diversity”.
Julie Sinnamon, CEO, Enterprise Ireland said, “Payslip is one of 10 companies which received an investment from Enterprise Ireland in 2016 as part of the Fintech Competitive Start Fund. The company has gone on to build a disruptive product that has proven itself both at home and internationally and addresses real customer needs in the payroll area, particularly with regard to GDPR. Enterprise Ireland will continue to support the global ambition of the Payslip team as it grows, bringing high quality fintech jobs to the west of Ireland”.
This news has also been featured in:
- Independent.ie, 5th March 2018 - Leading tech investors commit €1m to fintech disrupter Payslip ahead of GDPR
- Irish Tech News, 1st March 2018 - HBAN's Bloom Equity and WxNW Syndicates have invested in Payslip.com
- SilicolnRepublic, 28th February 2018 - 14 new jobs for Mayo start-up Payslip as it secures €1m investment
- RTE.ie, 28th February 2018 - Mayo-based Payslip raises €1m in new funding
- The Irish Times, 28th February 2018 - Co Mayo-based fintech startup Payslip has secured €1m in investment
- Finextra, 28th February 2018 - AIB joins EUR1 million funding round in payroll management startup Payslip
- Midwest Radio, 28th February 2018 - Westport-based company secures €1m investment for expansion
- AdHoc News, 28th February 2018 - Co Mayo-based fintech startup Payslip has secured €1m in investment
- Sync NI, 28th February 2018 - Payslip announces 14 jobs after it secures a €1 million investment
- CrowdFund Insider, 28th February 2018 - Global Payroll Software Payslip Secures €1 Million Investment Through Latest Funding Round Led By Frontline Ventures and AIB
- BizPlus, 28th February 2018 - Payslip Raises €1 Million
- Banking Tech, 28th February 2018 - Fintech funding round-up: 28 February 2018
- The Mayo News, 6th March 2018 - Move west pays off for Payslip
- Industry & Business, 7th March 2018 - Westport-based Payslip Secures €1 Million Investment With Leading Technology Investors