In 2024, at the launch of PaidHR’s cross-border payroll product, Seye Bandele, the CEO and co-founder of the Nigerian HR-tech upstart, spoke to TechCabal about the company’s plans to include more fintech-adjacent products.

At the time, we asked if PaidHR—which processed over ₦29 billion ($18 million) in staff salaries in that same year—was venturing into fintech; the answer was a definitive no.

Months after our conversation, the HR-tech startup launched a wallet app that allows employees to access and spend their wages without needing to transfer to a bank. The wallet app, which currently processes over ₦1.3 billion ($835,134) monthly, has triggered a knee-jerk reaction: “Yet another startup selling airtime.”

PaidHR’s playbook isn’t new. Global HR-tech companies like Deel, Remote, and Rippling have followed a similar arc—starting with payroll, then embedding financial services to deepen user engagement and drive revenue. Deel offers global payroll with built-in wallets and a Deel Card, enabling cross-border workers to hold and spend earnings. Rippling, which began as an HR platform, now includes corporate cards, expense management, and financial automation. Remote also facilitates multi-currency payments and localized benefits. PaidHR’s evolution mirrors this path.