• Dec. 8, 2016, 9:55 pm

Payroll service for the unbanked ‘dopay’ announces $2.4M funding

dopay, a London, England-based company provided payroll services for the unbanked, has announced a successful $2.4 million infusion led by Techstars Ventures and Force Over Mass Capital.

The funds are earmarked for a Middle Eastern and African expansion along with an Egyptian launch.

Services like dopay address pain points with both companies and their unbanked employees. Companies have the inconvenience of handling additional cash while the employees struggle to access basic financial services.

dopaydopay’s solution is a cloud-based payroll service and comprehensive mobile banking platform including an account, Visa-compatible debit card, and money management app.

“When the opportunity presented itself to extend our runway, we happily took it”, says dopay founder & CEO Frans van Eersel. “The new investors in the round give us access to a wide network of contacts that will accelerate our growth. Moreover, the funding allows us to scale up our team both in development and sales.”

dopay’s thorough solution impressed investors.

“dopay is one of those exceptional companies that have come up with a total solution,” Force Over Mass Capital CEO Martijn de Wever said. “(They’re) creating a win-win situation for both the corporate and the consumer. It is a smart multi-stakeholder approach which has proved to be very successful.”

Get Daily Digest

No spam guarantee.

One Comment

  1. Do You Need To Outsource Payroll Service?
    February 18, 2016 at 1:56 am Reply

    […] First of all, who will hire you should seek references: whether the vendor has institutional credibility and reputation in the market. Assess whether a specialization in labor, tax and fiscal issues, so there is no future problems; all payment vouchers of the obligations relating to the work of the contractor shall be required and periodically presented; it is possible to find very good help from real professionals when you contact payroll services Australia. They are ready to help you with all payroll outsourcing matters. You will never have to worry about all that paperwork again. Contact the best team in the country and have the opportunity to focus on your core business.for related information visit: http://www.banklesstimes.com/2016/01/31/payroll-service-for-the-unbanked-dopay-completes-2-4m-series… […]

Leave A Comment