Cercli (YC S23), a payroll startup, has secured $4 million in seed funding to address payroll management challenges in the Middle East and North Africa – MENA region, which they addressed as “Rippling for MENA”. Rippling is a US-based HR and payroll platform that companies use to effortlessly manage both local and international workforces.
Cercli believes that this move will strengthen its mission to simplify payroll management for businesses across the MENA region, a challenge its founders, Akeed Azmi and David Reche, faced firsthand while working at two of the region’s largest unicorns, Careem and Kitopi.
The company aims to provide a comprehensive solution for businesses to hire, manage, and pay their global workforce while ensuring compliance with local regulations.
Cercli’s platform replaces outdated methods such as spreadsheets and expensive ERP solutions, offering a unified system for payroll management across the region.
The startup focuses on mid-market enterprises, providing integrated solutions for HR, finance, accounting, legal, and IT functions. The platform’s localization efforts add significant value by addressing specific labor laws and processing salaries for employees without bank accounts.
Cercli has already processed over $23 million in employee salaries across 31 countries and reports a 25% month-on-month growth since its launch. The seed funding round was led by San Francisco-based Afore Capital, marking the fund’s first investment in the MENA region.
Y Combinator, COTU Ventures, and Rebel Fund also participated, along with executives from companies such as Ramp, Rappi, Kitopi, Careem, and Rippling.
Cercli plans to use the funding to expand its team, develop new products for various customer segments, and strengthen its presence in core markets.
