Payroll fintech Symmetrical.ai raises $18.5m Series A

Payroll fintech Symmetrical.ai has raised $18.5 million in a Series A funding round.

Symmetrical.ai lands $18.5m Series A

The round was led by Target Global and saw participation from Global Founders Capital, Finch Capital, Partech, Market One Capital and Inovo.

The company helps medium to large-sized companies onboard and pay workers at scale, offering a range of services including payroll, onboarding, employee management and earned wage access.

The Series A funding will accelerate Symmetrical’s expansion into new European markets as well as the US and will enable the company to offer its services to franchises and enterprise clients. Cash will also be spent on expanding its team.

Symmetrical.ai chief operating officer and co-founder Daniel Wartolowski says: “The biggest pain point for our customers is not having their payroll centralised across all the countries they operate in, thereby being forced to run payroll in an ever-changing jurisdictional environment across many different geographies.”

The company’s vision is to make payroll invisible (running in the background of daily business operations) through AI-based technology.

Symmetrical.ai was founded in 2019 in Warsaw, Poland and has multiplied revenues 23x in the last nine months, processing tens of thousands of paycheques and serving 47 customers across the UK, Spain and Poland.