Akeed Azmi and David Reche found a $2 billion opportunity while working with big companies in the Middle East and North Africa. They noticed that businesses in the region had trouble managing payroll and dealing with compliance costs due to mistakes made by people.
In January, they started Cercli to help solve this problem. They made software that lets businesses in the MENA region hire, manage, and pay their employees globally. Cercli’s platform attracted investors and received $4 million in funding led by Afore Capital.
Afore Capital supports Cercli because the founders are solving a big challenge in the region: managing a global workforce while following rules. CEO Azmi faced this challenge while working with Kitopi and Careem. He saw that companies struggled with paying employees in new markets, which led to the idea for Cercli.
Cercli replaces old methods of payroll management in the region and helps companies avoid mistakes and stay compliant. The platform has already replaced other systems like Deel and Remotepass for some customers because it offers better services.
Cercli is focused on mid-sized enterprises in the MENA region. By following local laws and rules, Cercli helps companies manage payroll, compliance, and other services for both local and global employees. The platform integrates with various tools to make these processes easier.
The startup has been growing rapidly and has paid out over $23 million in salaries to employees in 31 countries. The demand for payroll solutions is increasing in emerging markets, and Cercli aims to be a leader in the MENA region by providing reliable services to customers.
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