Singapore-based startup HReasily, which enables companies to improve productivity by streamlining HR work processes such as payroll processing, leave management and claim applications, has raised “seven-digit” US dollars in seed funding, co-led by Mazars Group (a global audit, accounting and consulting group) and New Zealand-based VC firm Zino Ventures.
The funding will be used to accelerate HReasily’s growth plan in Asia, which includes scaling operations, expanding and innovating its product and offering.
Founded in late 2015, HReasily is a cloud-based HR solutions company that provides working solutions to optimise HR work processes, such as payroll, staff, leave, claims and time management. HReasily has localised solutions and a presence in seven countries in Asia. Its all-in-one solution enables SMEs to automate workflow processes and increase productivity.
The company claims to have secured regional partnerships with the likes of United Overseas Bank (UOB). Most recently, it worked together with Visa and Stripe to launch the ability to pay salaries via credit cards.
“We are seeing the adoption of technology and the automation of processes becoming one of the top priorities for businesses in Asia. We are here to answer that demand,” said Sharon Lee, Co-founder, HReasily.
“It is exciting to see an innovative Asia-specific HR solution, HReasily, right in the heart of the fastest SaaS growing region across Asia Pacific with a massive market potential of over 65 million SMEs,” said Nelson Wang, General Partner, Zino Ventures.
“At UOB, we recognise what it takes for small businesses to succeed and believe that they can benefit from the use of SaaS in their digitalisation efforts. According to our recent ASEAN SME Transformation Study, three in five of ASEAN’s small businesses are investing more in technology to overcome their business challenges and to deepen their capabilities. Our collaboration with HReasily enables us to offer our customers access to a cost-effective, cloud-based solution for their human resource needs,” said Lawrence Loh, Managing Director and Head of Group Business Banking, UOB.