Cercli secures $4M funding for payroll innovation in MENA

Cercli, a startup founded in January, has developed a payroll platform aimed at addressing the payroll management challenges faced by businesses in the MENA region. The founders, who previously worked at Careem and Kitopi, recognized that many local companies struggled with high compliance costs and human error in payroll processes. Their solution is a software that allows businesses to efficiently hire, manage, and pay their global workforce while ensuring compliance with local laws. The startup has successfully attracted $4 million in seed funding, led by Afore Capital, marking the fund's first investment in the MENA region. The investment reflects the growing interest in innovative solutions that tackle significant challenges in workforce management. Cercli aims to unify payroll management by replacing outdated methods, such as spreadsheets and expensive ERP systems, with a single, efficient platform. Cercli's platform is designed to cater to both local and global payroll needs, integrating various workplace tools to streamline processes like compliance, onboarding, and leave approvals. Unlike existing global platforms that focus primarily on remote contractor payroll, Cercli emphasizes local payroll management, adhering to the specific regulations of the MENA region. This focus positions Cercli as a potential leader in the market, especially as larger companies often face inefficiencies in their payroll systems. As the demand for effective payroll solutions grows, Cercli's approach could disrupt the traditional payroll landscape in the region. The startup's success may inspire other companies to seek similar innovations, potentially leading to increased competition among payroll service providers in the MENA market.