KarbonPay

Automating Global Payroll in the Cloud

3
Funded!
$712,400
Fundraise Status
Closed
Goal Amount
$700,000
Amount Raised
$712,400

GLOBAL PAYROLL MADE EASY
KarbonPay: Fast Facts

Restoring ownership of the payroll process to multinational companies - for almost half the cost of current solutions.

The automated, cloud-based platform instantly and accurately calculates compliant payroll for multiple countries. The capability to do this in real-time as payroll is due is unprecedented and eviscerates the current industry 35% error rate.

GLOBAL PAYROLL MADE EASY
Lost in Translation

Multinational companies currently face incredible compliance complexity: the process breaks down when it comes to international gross-to-net calculations.

Untenable Timelines: In-country partners calculate compliant figures, sending data back and forth, requiring 5-7 days of lead time before payroll can be transacted.

Unsustainable Costs: This inefficient, manual process is unreasonably expensive.

Unacceptable Standards: Due to so much data movement between multiple partners and the rate changes which occur during the resulting time-lag, errors are common - at a startling 35% - and data protection is far from ideal.

Unsuccessful Reporting: Information is piecemealed so global reporting is difficult and time-consuming.

GLOBAL PAYROLL MADE EASY
Redefining Payroll Operations

Our founder ran an international human resources company, which increasingly spent more of its time manually processing in-country payroll for multinational HR companies.

Finding no efficient solution, he took the payroll rules that used to be applied by an employee with a pen and paper and built them into a world-class, automated rules-engine which instantly calculates gross-to-net compliant calculations on the client’s desktop.

GLOBAL PAYROLL MADE EASY
How It Works

This elegant, efficient, cloud-based payroll platform offers multinational companies:

Autonomy: Restores ownership of process - with no need for in-country partners.

Capability: Complex international tools (eg. instant language translation) is built-in.

Immediacy: Ability to calculate from their desktops immediately before payroll is due.

Analysis: Option to run all of their payroll reports individually or globally as they choose.

Security: Safeguarding of data - all code is developed in-house and hosted by AWS.

Add-On Service: Management of the submission of local taxes to the relevant authorities.

GLOBAL PAYROLL MADE EASY
Momentum

Development. The platform has been put through months of rigorous testing.

Traction. Live in South Africa as of September 2020. Over 50 companies are using the platform to pay over 1,600 employees. We have yet to demonstrate the platform to a customer who has failed to sign up.

Press.

GLOBAL PAYROLL MADE EASY
Connectivity

Partnerships. We work with in-country accounting firms which help us develop our rules engines and provide early-adopters for beta testing and market confirmation of our competitive advantages in each new market we add to the platform.

In addition:

GLOBAL PAYROLL MADE EASY
Meet The Team

Brad Price
FOUNDER & CEO
Founded Fingo HR in 2016 and grew annual revenues 1,200% in under 2 years. Has led global payroll teams from the US, UK, Canada, Mexico and South Africa.

Rob Kleifgen
CFO
Seasoned executive with >17 years of industry experience, providing financial leadership and management and experienced in all aspects of executive financial operations.

Andy Sahl
SALES LEAD
Experienced technology sales leader and passionate team-builder. Andy was the first salesperson at a SaaS startup in workforce metrics that had a successful exit.

Darius Franken
SOFTWARE LEAD
15 years development experience building various products and has led diverse development teams. He has spent 5 years designing and building Payroll Systems.

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