back Back

Salsa raises $10m to enhance payroll system

By Delisha Fernandes

May 12, 2023

  • Canadians
  • digital products
  • Fintech news
Share

salsaSalsa, a startup that enables software platforms to embed and launch payroll features, announced that it had raised $10 million in funding to modernise the way workers get paid.

Salsa enables developers to easily add a revenue-generating payroll solution inside their software products to offer their customers an all-in-one experience managing their business and employees.

Salsa takes the complexity out of payroll for these platforms by handling all of the compliance, calculations, tax filing, and money movement so that software applications can focus on inventing a better payroll product experience for business owners.

“We’re making it simple to build a payroll product for the first time, and this will create a proliferation of better choices for businesses: modern tools that fit the needs of today’s workers. This hasn’t happened yet because payroll products have always been tough to build and maintain. With Salsa, any developer can imagine a better payroll experience and launch it a month later,” said John Kramer, CEO and co-founder of Salsa.

“Payroll is one of the biggest pain points small businesses face, and we believe in an integrated approach. The products built on Salsa were easy to launch and were much better than the status quo. John, Juan and the team are the perfect folks to build this business,” said Sheel Mohnot, co-founder of Better Tomorrow Ventures.

The funding round was led by Greycroft, Better Tomorrow Ventures, and Definition, with participation from Cambrian’s Rex Salisbury and Forum Ventures. The investment will further develop the product and grow the team.

Currently, Salsa is available to software platforms serving both US and Canadian businesses. Salsa takes a share of the revenue software companies earn from the payroll product to fulfil the operational side of running payroll.

Previous Article

May 12, 2023

Temenos expands partnership with AWS to offer Core Banking as SaaS

Read More
Next Article

May 12, 2023

Petal bags $35m in new funding, spins off Prism Data

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Canadians

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

5 FinTechs boosting Wealth Management in the USA

Read More

Today

Coast raises $40m Series B to boost modern fleet payments

Read More

Today

Digital wallet Kuady opens office in Bulgaria

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024