Financial technology firm Finclusion Group has acquired a strategic stake in HelloHR, a South African payroll software start-up, for an undisclosed amount.

The acquisition is part of the Inclusion group’s strategy to deliver holistic financial wellness products through employers, and will help HelloHR customers by providing them with access to payroll, financial wellness and other products. group insurance Finclusion, said the fintech company.

Finclusion CEO Timothy Nuy said the acquisition marks the start of a symbiotic partnership that enhances the individual product offerings of both companies.

“HelloHR will contribute to the Finclusion group’s platform, strengthening all offerings through an improved customer experience and increased customer retention rates. The relationship enables the group to provide SmartAdvance employers with access to payroll services.

Bernard Bravenboer, founder of HelloHR, says the value provided by the combination of payroll administration and benefits infrastructure is usually only visible in large companies.

“This partnership democratizes access to financial wellness products and access to earned wages, and can provide a much needed boost to the employee experience. We know that small and medium-sized businesses are the future of South Africa, and this is where we can play our part.

HelloHR provides a cloud-based payroll solution connecting accountants, organizations and employees, and works closely with cloud-based accounting software Xero in South Africa.

Accessible through a web application, the tool automates the payroll process, including necessary leave and tax adjustments, saving time and reducing the risk of human error, explains Inclusion.

Additionally, he notes, the user interface provides a platform for admins to relay all payroll-related information, with personalized user experiences designed specifically for each level of access.