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Vendor News

Industry developments from the global payroll vendor and research community.

UAE-Based Startup Bayzat Raises $16M in Series B Funding

Bayzat, a United Arab Emirates (UAE)-based company providing a free platform for HR, payroll, and employee benefits, raised $16 million in Series B funding. The funding round was led by Point72 Ventures and is Mubadala Capital’s first investment in a UAE-based startup.

Founded in 2013, Bayzat’s online platform is designed to help companies manage and automate HR administration, payroll, and health insurance, thus, according to the company, significantly streamlining processes for HR and finance teams.

Bayzat Chief Executive Officer Talal Bayaa said he is delighted to have the company partner with Point72 Ventures and Mubadala, two respected global venture investors, in order to continue growth and build out their suite of financial services offerings to the Middle East.

“The opportunity lies in enhancing the employee experience of 70% of SMEs in the UAE that don’t have HR automation in place,” Bayaa said. “We’re incredibly excited to build technology-enabled experiences that meet the challenges faced by our customers.”

Visit www.bayzat.com for more information.


Ceridian Enhances Canadian Powerpay for People Management

Ceridian, a global human capital management (HCM) technology company, announces plans to offer enhanced HR capabilities within its Powerpay platform. This new functionality, according to the company, gives Canadian small businesses a simpler, more streamlined way to manage employees through an integrated HR and payroll application.

Powerpay is one of Canada’s largest HR and payroll solutions for small businesses trusted to pay over one million employees. These new enhancements include:

  • Building an employee database in the cloud
  • Securing company-sensitive documentation
  • Managing time off efficiently

“Our small-business customers tell us they are challenged to juggle daily operational priorities while maintaining an employee-centric workplace,” said Chris Armstrong, Chief Operating Officer at Ceridian. “Powerpay helps modernize HR processes and creates time-saving operational efficiencies, giving Canadian small-business owners peace of mind and time back in their day to focus on business growth and employee development.”

Visit www.ceridian.com for more information.


Ebury Makes Landmark Acquisition of Frontierpay

Ebury, one of Europe’s largest fintech companies, announced its first acquisition: Frontierpay, an international payroll payments provider with offices in the U.K. and Singapore.

Ebury has acquired the payroll payments business as part of its expanded technology investment program. The acquisition, according to the company, forms part of Ebury’s broader strategy to invest in technologies that will help accelerate the automation of international payment processes, specifically targeting those within finance and treasury functions of mid-market corporates.

Frontierpay, founded in 2009, delivers cost-effective and reliable payroll payments across 180 countries and will enhance Ebury’s global trade and transaction banking platform and accelerate its growth.

“This transaction comes during a period of change for our business, as we partner with more financial institutions and invest heavily in the technologies that will change the way SMEs trade and make payments internationally,” said Juan Lobato, Ebury’s Co-founder and CEO. “We know Frontierpay well so we are confident of the product, client, and geographic benefits and, most importantly, the cultural fit.”

Visit www.ebury.com for more information.

 

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