28 Feb 2018 | 07.51 am
Payslip Raises €1 Million
Westport payroll firm is GDPR ready
28 Feb 2018 | 07.51 am
Mayo payroll software company Payslip has raised investment funding of €1m via Frontline Ventures, AIB, tech investors Tribal and Bloom Equity, and Enterprise Ireland.
Payslip provides payroll management software to multinational companies so that payroll teams can manage data and workflows, internally across functions and externally with payroll providers, on a centralised cloud platform. The company says its product delivers increased GDPR data protection, consolidated reporting, a transparent process and people performance management.
To be ready for the arrival of the General Data Protection Regulation on 25 May, Payslip has integrated ‘Data Protection by Design’ into their overall software strategy, which will enable employers to enhance their GDPR global payroll compliance and reduce corporate risk.
Founder and chief executive Fidelma McGuirk said: “The investment in Payslip gives us additional resources to strategically expand the company through client acquisition, and to fuel team growth with 14 new hires forecast in 2018.
“We have already initiated our search to fill positions including Chief Technology Officer and slots in international payroll, operations and sales roles. Other planned recruitment is for software engineers and software integration specialists. We have exciting product development to deliver for our enterprise clients, including integrations into accounting and HR software such as SAP, Workday and Netsuite HR. Our Westport team will lead this innovation and implementation.”
Enterprise Ireland chief executive Julie Sinnamon added: “Payslip is one of ten companies that received an investment from Enterprise Ireland in 2016 as part of the Fintech Competitive Start Fund. The company has gone on to build a disruptive product that has proven itself both at home and internationally, and addresses real customer needs in the payroll area, particularly with regard to GDPR. Enterprise Ireland will continue to support the global ambition of the Payslip team as it grows, bringing high quality fintech jobs to the west of Ireland.”
Photo (l-r): Billy Hanley of Enterprise Ireland, Fidelma McGuirk, Carolina Küng of Frontline Ventures, and AIB’s Aoife Kelly.