Papaya Global secures new investment from Group 11

Tuesday 2 June 2020 14:21 CET | News

US-based payroll and payment platform Papaya Global has received new investment from venture capital firm Group 11.

Group 11 purchased secondary stock from existing shareholders to make the undisclosed investment.

The move comes after Papaya Global raised USD 45 million in a Series A funding round in October 2019. The round was led by Insight Partners.

Papaya Global offers a cloud-based SaaS platform to automate payroll and workforce management. The platform is designed to offer an end-to-end solution to eliminate errors and streamline the payroll process.

With the new proceeds, the company seeks to support its growth as well as introduce new products.

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Keywords: Papaya Global, investment, Group 11, payments
Categories: Banking & Fintech
Countries: United States
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Banking & Fintech

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