Unlocking Payroll Efficiency: Cercli Raises $4M to Transform MENA's Workforce Management

Cercli's Vision for Payroll Management

Cercli, a startup founded by Akeed Azmi and David Reche, aims to tackle the payroll challenges faced by businesses in the MENA region. Having previously worked at major unicorns like Careem and Kitopi, the founders recognized a $2 billion opportunity in streamlining payroll processes.

The Problem with Current Payroll Systems

Many companies in the region struggle with high compliance costs and human error in payroll management. Cercli was created to simplify this by offering a software platform that allows businesses to hire, manage, and pay their global workforce efficiently. The startup has successfully attracted $4 million in seed funding led by Afore Capital, marking a significant investment in the region.

Building the "Rippling for MENA"

Cercli is often compared to Rippling, a well-known payroll management system in the U.S. The founders are committed to solving the complexities of managing a global workforce while ensuring compliance with local regulations. Azmi shared insights from his past experiences, stating, "I was doing what Deel was doing at Kitopi... which is payroll and all of the adjacencies around it."

Addressing Diverse Needs

Cercli's platform aims to replace outdated payroll methods, such as spreadsheets and expensive ERP solutions, with a unified system that meets the unique requirements of both small and large businesses. During their research, the founders discovered that smaller companies often face data privacy risks, while larger firms incur high costs for traditional payroll solutions.

Localized Solutions for Compliance

Focusing on mid-market enterprises, Cercli emphasizes the importance of local compliance. The platform integrates with various workplace tools, enabling businesses to manage payroll, compliance, employee records, and more, all while adhering to the specific laws of the MENA region.

The Growing Demand for Payroll Solutions

As demand for payroll and HR solutions surges in emerging markets, Cercli positions itself as a leader in the MENA region. Recent acquisitions in the industry highlight the potential for growth, and Cercli aims to be at the forefront by codifying regulations and providing tailored solutions for businesses of all sizes.

Future Plans and Growth

With the recent funding round, Cercli plans to expand its team, develop additional products for SMEs and enterprises, and enhance its market presence. The startup has already paid out over $23 million in salaries across 31 countries since its launch earlier this year, showcasing its rapid growth and potential in the payroll management landscape.