UAE-Based HRtech Platform Cercli Secures $4 Million in Seed Funding to Disrupt MENA Payroll Market
Cercli, a UAE-based HRtech platform, has raised $4 million in a seed funding round led by Afore Capital, marking the firm’s first investment in the MENA region.
The funding round also saw participation from COTU Ventures, Y Combinator, and Rebel Fund, as well as contributions from prominent industry figures including Karim Atiyeh (Ramp), Sebastian Mejia (Rappi), Tony Dong (Rippling), and Tony Jamous (Oyster). Notably, executives from companies such as Ramp, Rappi, Kitopi, Careem, and Rippling also contributed to the round.
Founded in 2023 by Akeed Azmi and David Reche, Cercli is a payroll startup focused on providing businesses in the MENA region with an integrated platform to hire, manage, and pay their global workforce. The platform addresses common challenges related to payroll errors, compliance costs, and operational inefficiencies by offering a comprehensive solution tailored to the needs of mid-market enterprises. Cercli’s services encompass payroll management, compliance, employee-of-record, expense reimbursements, onboarding, and leave approvals, all while adhering to the specific regulations and laws of the MENA region.
Since its launch, Cercli has facilitated the payment of over $23 million in salaries across 31 countries. The fresh injection of $4 million in seed funding will be utilized to grow the company’s team, expand its product offerings to serve additional customer segments, including SMEs and enterprises, and strengthen its presence in key markets.
Cercli’s team comprises experts from leading companies such as Kitopi, Careem, Microsoft, and Accenture, and the new funding will enable the platform to attract even more top talent. With a focus on mid-market enterprises, Cercli aims to address the pronounced need for integrated and compliant solutions across HR, finance, accounting, legal, and IT sectors. By providing a single, unified platform, the startup empowers businesses with both local and global workforces to efficiently manage their operations and remain compliant with regional regulations.
