HR startup raises $1.3m in seed round

HR startup Paismo has raised a seed round of $1.3 million, which takes its total funding to date to $1.5m, the company said on Monday. Speaking to Dawn, Paismo co-founder and CEO Rebecka Zavaleta said the start-up helps businesses address HR challenges like managing employees, keeping track of their attendance and performance, providing them with benefits and processing their payroll. “The solutions so far are not easily customisable, difficult to use, and do not generally provide access to benefits. Paismo is solving these challenges by building a customisable HR tech product with local benefit integrations,” she said. The start-up is backed by top global venture capital and regional investors, led by Indus Valley Capital, with participation from Antler and Jedar Capital, a company statement said. In Pakistan, Paismo focuses on increasing employee bank account openings and easier access to health benefits. The founders claim it’s Pakistan’s first modern HR tech, payroll and benefit provider with the aim to go global, including the Middle East, North Africa and South-East Asia.