Fintech start-up SalaryBox has raised $4 million in a new seed round from new and existing investors. Investors who participated in this round include Y-Combinator, Jerry Yang’s AME Cloud Ventures, Soma Capital, and 2 AM Ventures along with Gokul Rajaram, Sriram Krishnan, Anand Chandrasekaran.
SalaryBox is an app-based employee management solution that promises to simplify staff attendance and payroll processes. The funds raised in the current round will be used to grow its team, invest in building new products, and add new features to the product.
SalaryBox was founded by IIT Roorkee Alumni Nikhil Goel and Peeyush Goyal back in May 2020. The company has already grown to manage payroll for over 1 million employees and aims to surpass 10 million employees by the end of next year.
The company raised pre-seed funding back in May 2021 from GSF Accelerator and several individual investors like Alok Mittal, CEO, Indifi; Amit Ranjan, ex-Co-Founder, SlideShare; Sumit Jain, Co-Founder, CommonFloor; Gaurav Kapur, Founder of Oaktree Sports; and Surjendu Kuila, Co-Founder, Zopper.
