Cadana is a global payroll technology company based in NYC that specializes in emerging market. The company has raised $7.4m to date.
Costanoa Ventures led the round, with Better Tomorrow Ventures and Startup 500 also participating.
The funds will be used for expanding its team, accelerating product development and scaling up to new markets.
Cadana was founded in 2021 by Albert Owusu Asare, an immigrant to Ghana, and Ameer Shjjah, a Pakistani immigrant, who have built payroll APIs, a white-label suite of products, and a global talent marketplace that HR platforms and global talent marketplaces can use to improve payroll services for workers in more than 30 emerging economies, including Nigeria, Ghana and Brazil.
Cadana APIs and white label products enable global workforce platforms manage payments and payroll seamlessly integrated into their existing systems. Cadana has built a localized network of infrastructure to ensure compliance with local employment and tax regulations. This reduces fraud and liabilities resulting from inadvertently breaking local employment laws.
Cadana has facilitated more than $150 Million in transactions in 32 countries in the last 18 months and saved workers more than $2 million in fees.
FinSMEs
20/06/2024