Dopay, a fintech startup specializing in digital payroll solutions for emerging markets, has successfully raised $13.5 million in a Series A extension round. This funding round was led by a consortium of investors committed to fostering financial inclusion and technological advancement in underserved regions.
Founded with a mission to streamline payroll processes and enhance financial access for unbanked populations, Dopay has rapidly gained traction since its inception. The company’s innovative platform allows employers to manage payroll digitally, providing employees with secure access to their wages through mobile devices, even without traditional bank accounts.
The latest investment will fuel Dopay’s ambitious expansion plans, focusing on scaling its operations across key markets in Africa, the Middle East, and Asia. By leveraging the new capital, Dopay aims to bolster its technological infrastructure, enhance product development, and grow its customer base among SMEs and large enterprises alike.
“We are thrilled to receive this strong vote of confidence from our investors,” said Frans van Eersel, CEO of Dopay. “This funding will enable us to accelerate our mission of promoting financial inclusion through accessible and efficient payroll solutions. We remain committed to empowering businesses and workers in emerging markets, helping them navigate the challenges of traditional banking systems.”
Dopay’s platform not only simplifies payroll management but also fosters economic empowerment by providing workers with timely access to their earnings. With mobile penetration rising rapidly in developing regions, Dopay’s digital payroll solutions are poised to make a significant impact on improving financial literacy and stability among underserved communities.
As Dopay continues to innovate and expand its reach, the company remains dedicated to bridging the financial inclusion gap and driving sustainable economic growth in emerging markets.