Zimyo, a HR software and payroll platform targeting SMB customers in India, has raised $1.5 million in a seed round led by BEENEXT.
Zimyo, founded in 2018 by Kumar Mayank and Ajay Kadyan, aims to offer its SaaS platform and financial solutions to over 200 million SMB employees.
Zimyo’s financial marketplace runs over its own proprietary payroll-led Credit engine and helps SMB employers to attract, retain and nurture talent by offering financial benefits.
Hero Choudhary, partner at BEENEXT, said: “With Zimyo’s differentiated offering of Financial Benefits riding on core HR and Payroll solutions, we believe SMB will be able to better serve their employees resulting in a high NPS and low attrition.”
Kumar Mayank, Zimyo’s co-Founder and CEO said the company plans to use seed funding to hire new employees and expand its business.