SA-based startupJem HR (Jem) has closed apre-Series A funding round for R60 million to accelerate its growth and product development. The funding round included equity funding led by Old Mutual subsidiaryNext176 and a R30 million private debt facility.
This is the company’s second funding round since securing $2 million in seed funding in March 2022.
The R30 million debt facility will enable Jem to launch new products designed to improve the lives of deskless (frontline) employees. Products include a savings tool, low-cost insurance, credit score support, financial wellness helpline and value-added services like airtime and data bundles.
“This funding is a pivotal step in enabling us to achieve our dual mission: to make managing and connecting frontline employees effortless while providing them with money-saving financial benefits,” said Simon Ellis, co-founder and CEO of Jem HR.
Jem is a WhatsApp-based HR and employee benefits platform. Founded in 2019 as SmartWage, the company rebranded to Jem HR in 2022 and began by providing employees with access to a percentage of their salaries and wages for work they have already done.
The company expanded to enterprise solutions, providing business with an effective way to digitise HR processes. The product enables employees without email the ability to receive company-wide communication, access to their payslips, request leave and access to financial wellness products, all through WhatsApp.
“We’re seeing strong demand for our platform, driven by the need to address the challenges faced by deskless workers, including low wages, unreliable transport, and safety concerns. The new funding will allow us to expand beyond Southern Africa, grow our team, and enhance our all-in-one platform to tackle HR, communication, and employee benefit challenges at scale,” concludes Ellis.
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