Staff Writer, Mubasher
UAE – Dubai-based human resources technology (HR tech ) startup alfii secured $2.50 million in pre-seed funding to expand its team and widen its product offerings, according to a press release.
US-based Preface Ventures, Kayan Ventures, UAE-based Aditum Ventures, and Wayfinders led the fundraising, along with a number of local and regional angel investors.
The startup was founded in November 2022 by Yousef Albarqawi, Becky Jefferies, and Dina Mohammad-Laity. It was designed to help growing businesses manage their HR workload and deliver a better employee experience.
Meanwhile, the team will use the funding to continue developing and enhancing its fintech-powered software platform. They will mainly focus on providing an enhanced suite of payroll features that provide clients with smarter and faster ways to manage payroll and salary disbursements.
The startup will also invest heavily in engineering and product talent to expand the product feature set and optimise the user experience. Additionally, alfii will gradually roll out a pipeline of new features to address more core HR processes, such as onboarding, time tracking, time off and leave management, and much more.
Albarqawi, CEO and Co-Founder of alfii, commented: “We are looking to build the next generation of this product class, and we are building it entirely in-house—which means we need to bring on world-class talent to grow our business and better serve our customers.”
Farooq Abbasi, General Partner of Preface Ventures, indicated: “Data interoperability is an industry-wide challenge in the HR stack, but in developing regions like MENA, those challenges are further exacerbated by local and regulatory infrastructure.”
“With alfii’s all-in-one software suite, companies will be able to better understand and manage their human capital resources while improving the user experience for employees with features like digital-to-cash remittances, benefits selection, and more,” Abbasi continued.
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