Paismo, a Lahore, Pakistan-based HR Tech startup, raised $1.3 million in an oversubscribed seed round, bringing its total funding to $1.5 million.
The round was led by Indus Valley Capital, with participation from investors including Antler and Jedar Capital.
Indus Valley Capital is an early-stage VC fund focused on Pakistani startups. It seeks to make impactful investments in companies operating in the technology sector in Pakistan. Founded in 2019, the firm is headquartered in Karachi, Pakistan.
Paismo Use of Seed Funds
The capital raised will be utilized to expand the team and cover operational costs.
Founded by Rebecka Zavaleta and Usama Mahmud, Paismo is a modern HR, payroll, and benefits provider servicing global markets with a focus on Pakistan. Paismo offers a Software-as-a-Service (SaaS) platform designed to provide global solutions while creating a significant local impact. Among its features are integrating attendance and timesheets with payroll and providing mobile app access to payslips.
Paismo aims to be the first modern HR tech, payroll, and benefits provider in Pakistan that goes beyond the local market to target regions including the Middle East and North Africa (MENA) and Southeast Asia.
Company: Paismo, Inc.
Round: Seed Round
Funding Month: August 2023
Lead Investors: Indus Valley Capital
Additional Investors: Antler and Jedar Capital
Company Website: https://www.paismo.com/
Software Category: HR and Payroll Management Solution