Paismo, an HR Tech startup, is poised to transform the future of work in emerging markets with its comprehensive “hire to retire” solutions. The company has successfully raised $1.3 million in a seed funding round, which was oversubscribed, bringing its total funding to $1.5 million. Paismo’s innovative approach to human resources and workplace management is making waves in the industry.
Driven by a “made in Pakistan, for the world” vision, Paismo offers a Software-as-a-Service (SaaS) platform designed to provide global solutions while creating a significant local impact. In Pakistan, the company focuses on key initiatives to facilitate employee bank account openings and improve access to health benefits.
This US/Pakistan-based startup has garnered support from top global venture capital firms and regional investors, with Indus Valley Capital leading the funding round. Antler and Jedar Capital also participated in the investment. As Pakistan’s first modern HR Tech, Payroll, and Benefits provider, Paismo has ambitious plans to expand globally, targeting markets in the Middle East and North Africa (MENA) and Southeast Asia (SEA).
Aatif Awan, the founder of Indus Valley Capital and former VP of Growth & International at LinkedIn, commented on the company’s mission, stating, “I saw firsthand at LinkedIn how software can create economic opportunity globally. With Paismo, we are excited about the opportunity to build an incredible ‘Made in Pakistan, for the World’ SaaS product to solve a huge problem for employers and employees across emerging markets.”
Paismo’s leadership includes Co-Founders and UPenn Alumni Rebecka Zavaleta and Usama Mahmud. Rebecka brings over a decade of product leadership experience in California, with a track record of global product releases at tech giants such as Google, Tiktok, and Facebook. Usama, a Visiting Scholar at UPenn’s Graduate School of Education, offers extensive expertise in driving large-scale public sector reform programs, having raised over $50 million for the Punjab education sector.
Having witnessed the HR challenges in emerging markets, Rebecka and Usama recognized the need for improved HR practices. Many HR processes in these regions are either nonexistent or lack efficiency, adversely affecting work culture, business productivity, and employee motivation.
Through technology-driven solutions, Paismo aims to address these challenges comprehensively, offering a one-stop platform that benefits both employers and employees. According to Rebecka, “Paismo is not just another software; it goes beyond that. It is a product-led company, providing a customizable, user-centric solution, and actively integrating with strategic partners to foster access to benefits. We’re passionate about delivering a holistic experience to our clients.”
Paismo envisions reshaping the future of work in emerging markets. Sherif Nessim, founder of Jedar Capital, a strategic MENAP venture capital, emphasized the need for HR services in these markets and commended Paismo for its commitment to building a world-class product.
Markus Bruderer, partner at Antler, highlighted the alignment of Paismo’s innovative approach with the evolving demands of the modern workforce.
Since its launch in Pakistan earlier this year, Paismo has expanded its solutions to various businesses across different sectors. The company is collaborating with key partners, including Adamjee Insurance and MCB Islamic Bank, to offer easy access to insurance and financial benefits. This strategic funding and growing network of partnerships position Paismo as a rising star in the HR Tech sector.