When was PaySpace founded?

PaySpace was founded in 2000 and raised its 1st funding round 9 years after it was founded.

Where is PaySpace located?

PaySpace is headquartered in Johannesburg, South Africa.

How many employees does PaySpace have?

As of Aug 31, 2026, the latest employee count at PaySpace is 350.

Is PaySpace a funded company?

PaySpace is a funded company, having raised a total of $***** in its 1st and only funding round, a Seed round on Jul 22, 2009.

When was the latest funding round of PaySpace?

PaySpace's latest funding was a $***** Seed round on Jul 22, 2009, with participation from 1 investor. Its primary sector is HRTech. Globally, the HRTech sector has seen $2.89B in funding in 2026 to date.

Where does PaySpace rank among its competitors?

PaySpace ranks 435th amongst 3736 active competitors, of which 231 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Bob, which secured an undisclosed amount in Sep, 2026.

Who are the top competitors of PaySpace?

PaySpace's top competitors include Workday, Gusto and Factorial. Among them, Bob secured the most recent funding round in September, 2026.

PaySpace - 2026 Company Profile, Team, Funding & Competitors

Company Details

Cloud-based HRMS platform for enterprises. The product modules include payroll and human resource management. The features include leave management, performance management, workforce planning, employee self-service, training & skill management, and more. It also provides employee self service platform.

Website: www.payspace.com
Social
Email ID: *****@payspace.com
Part Of

Key Metrics

Founded Year

2000

Location

Johannesburg, South Africa

Stage

Acquired

Latest Funding Round

Seed, Jul 22, 2009, $*****

Investors

NetCash

Ranked

435^th among 3736 active competitors

Employee Count

350 as on Aug 31, 2026

Similar Companies

Workday & 4031 more

Exit Details

Acquired by Deel (Mar 05, 2024)

View PaySpace's full profile

PaySpace is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
PaySpace CIN: 40103236188 , Latvia, Deadpooled	Jun 26, 2009	€0 - €1M (As on Dec 31, 2020)	2 (As on Dec 31, 2020)	-

PaySpace got acquired by Deel on Mar 05, 2024.

Click here to take a look at PaySpace's acquisition in detail

PaySpace has raised funding over 1 round. Its latest funding round was a Seed round on Jul 22, 2009 for $*****. 1 investor participated in its latest round. PaySpace has 1 institutional investor.

Here is the list of recent funding rounds of PaySpace:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jul 22, 2009	3453942	Seed	2920965	2643979	8802344	2107936

Access funding benchmarks and valuations. Sign up today!

View details of PaySpace's funding rounds and investors

The founders of PaySpace is David Watts.

Here are the details of PaySpace's key team members:

David Watts: Co-Founder of PaySpace. They are also an angel investor in 1 startup and serve on the board of 1 company.

View details of PaySpace's Founder profiles and Board Members

PaySpace's employee count trend

PaySpace has 350 employees as of Aug 26. Here is PaySpace's employee count trend over the years:

Uncover PaySpace's growth story! Sign up today!

Access Tracxn on any website

Our Google Chrome extension lets you view company details while browsing their websites

Install Tracxn Extension

Top competitors of PaySpace include Workday, Gusto and Factorial. Here is the list of Top 10 competitors of PaySpace, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Workday 2005, Pleasanton (United States), Public	Developer of cloud software for human resources finance and operations	$352M	Greylock Partners, T. Rowe Price & 11 others	88/100
2nd	Gusto 2012, San Francisco (United States), Series E	Cloud-based payroll, benefits, and HR software for small and medium-sized businesses	$718M	T. Rowe Price, CapitalG & 85 others	84/100
3rd	Factorial 2016, Barcelona (Spain), Series D	Provider of business management software for human resources and finance	$369M	Atomico, Tiger Global Management & 10 others	82/100
4th	Kronos 1977, Lowell (United States), Acquired	Provider of HCM software solutions for enterprises	$855M	GIC, Blackstone & 3 others	81/100
5th	Deel 2019, San Francisco (United States), Series E	Provider of human resources and international payroll compliance software tools	$986M	Spark Capital, Andreessen Horowitz & 55 others	79/100
6th	GreytHR 1994, Bengaluru (India), Acquired	Provider of cloud based human resource management system and payroll software.	$47.4M	New Enterprise Associates, Info Edge & 14 others	79/100
7th	PeopleStrong 2005, Gurugram (India), Acquired	Provider of human capital management platform offering integrated HR solutions	$30.7M	West Street AEP I Offshore Aggregator, HDFC Bank ... & 41 others	78/100
8th	Remote 2019, Amsterdam (Netherlands), Series C	Provider of employment infrastructure for payroll compliance and contractor management	$506M	SoftBank Vision Fund, Two Sigma Ventures ... & 27 others	77/100
9th	Dayforce 2008, Toronto (Canada), Acquired	Developer of human capital management software providing HR and talent solutions	$30M	Bridgescale, Ceridian & 1 others	77/100
10th	Bob 2015, London (United Kingdom), Series E	Provider of a platform for human resources, payroll, and finance	$740M	General Atlantic, Bessemer Venture Partners ... & 23 others	75/100
435th	PaySpace 2000, Johannesburg (South Africa), Acquired	Cloud-based HRMS platform for enterprises	-	NetCash	33/100