The $2 Billion Opportunity Uncovered by Former Careem and Kitopi Leaders in MENA Region
Cercli, a startup founded by Akeed Azmi and David Reche, is revolutionizing the way businesses in the Middle East and North Africa (MENA) region manage their global workforce. With $4 million in seed funding from Afore Capital, Cercli aims to streamline payroll management and compliance for companies of all sizes.
Afore Capital's managing partner, Anamitra Banerji, believes Cercli is solving one of the region's biggest challenges by providing a unified platform for payroll management. CEO Azmi, drawing from his experience at Kitopi and Careem, recognized the inefficiencies in existing payroll systems and set out to create a solution that combines local and global payroll needs.
By replacing outdated methods with a single platform, Cercli aims to reduce human error and ensure full compliance for businesses. The platform's success lies in its ability to cater to the specific labor laws and requirements of the MENA region, adding value to companies by streamlining HR, finance, accounting, legal, and IT services.
With a focus on mid-market enterprises, Cercli has seen rapid growth since its launch earlier this year. The platform's integration with various workplace tools allows for seamless processes and automation of back-office work. Cercli acts as a payroll subprocessor for global platforms like Rippling, Workday, and Deel, positioning itself as a leader in the payroll and HR solutions market.
As demand for payroll solutions grows in emerging markets, Cercli's innovative approach and strong team of product and engineering experts set it apart from competitors. With Y Combinator's participation in its seed round, Cercli is poised to expand its presence in core markets and serve a diverse range of customer segments, from SMEs to enterprises.
In conclusion, Cercli's emergence in the MENA region signifies a shift towards more efficient and compliant payroll management practices. By offering a comprehensive solution tailored to local needs, Cercli is paving the way for future innovations in the payroll and HR industry, benefiting businesses of all sizes in the region.